The Farfetch website has been recently backed by publishing company Conde Nast. According to the breakout deal between the two fashion moguls, Code Nast is set to invest $20 million in the e-commerce site which specializes in high end retail.
Sold within the Farfetch forum is an assortment of upscale menswear and womenswear. With over 250 designers listed, there is much to choose from, especially as it updates its featured pieces in accordance with the seasons.
CEO Jose Neves began the online venture in 2008. While he has already vastly expanded the company, the investment will allow for further exploration into the style market. Among the projects on the horizon is Farfetch's potential multi-linguistic launch in Japanese, Mandarin, Korean and Spanish.
What's Driving This Trend
- Editorial E-commerce Partnerships
- Opportunities exist for more publishing/fashion partnerships to combine content and commerce.
- Multi-lingual E-commerce
- Expansion into non-English-speaking markets presents potential for growth and innovation in the e-commerce space.
- Personalization in Online Retail
- As e-commerce continues to grow, there is a need to personalize the shopping experience to stand out in the market.
Who This Affects Most
- Publishing
- Publishers can find opportunities in partnering with e-commerce sites to drive more revenue.
- Fashion Retail
- Fashion brands can explore new avenues for growth and increase their market reach through e-commerce partnerships.
- E-commerce
- The e-commerce industry should continue to drive innovation in the personalization space in order to increase customer engagement and loyalty.
