E-commerce Success Stories – Farfetch

[shukla7789]

I have been following Farfetch 's journey and it seems to me to be a good case study for those interested in entrepreneurship, digital presence and e-commerce success stories. If you are not familiar with the company, take a look here.

To start with some context, Farfetch is a global e-commerce company founded in 2008 by José Neves. The company connects shoppers with over 400 luxury boutiques through a single online storefront for a seamless logistics experience for both buyers and sellers. Farfetch provides any small retailer with an elegant and streamlined online shopping technology to power e-commerce. It also offers logistics intelligence for global same-day delivery and in-store returns, and provides access to a growing customer base around the world. The company has signed partnerships with boutiques based in 35 countries and ships to customers in 190 countries, generating $500 million in revenue in 2015. The company currently has offices in 10 of those countries.

But what stands out is that since its launch, Farfetch has grown almost 100% every year. In 2014, it had a turnover of almost 300 million euros, and in 2015 it reached 450 million. The challenge is to overtake Net-a-Porter, the online leader in designer clothing sales.

The view that excites me is that there is an underlying trend. There are bolivia number dataset growing and thriving, simply by having an online presence. In Portugal, e-commerce is expected to grow by 15.7%, which is higher than the European average of 13.3%. This growth, reported in the eCommerce Europe Association’s B2C eCommerce report, indicates that 35% of Portuguese people make purchases online.

Ecommerce Success Stories - FarfetchThe figures for online sales in 2016 are not yet known, but they are expected to have exceeded 510 billion euros across Europe. Optimism is widespread, with sales volumes forecast to be 598 and 660 billion euros for 2017 and 2018, respectively.