When Farfetch Ltd. came to market in a $7 billion initial public offering in 2018, it promoted itself as a way to tap into the huge online demand for luxury goods, without the big spending that had dogged European rival Yoox Net-a-Porter.

Farfetch, though, has proved to be anything but capital light. It has burned through at least $1 billion of cash since listing, as it shifted from connecting top-end buyers with boutiques to a mish-mash of marketplace, online department store, physical retailer, tech company and brand owner — a misadventure that has saddled it with $1.6 billion of total debt and shriveled its market capitalization to about $630 million today from a peak of $26 billion in 2021 at the height of the pandemic’s online craze.

QOSHE - Making Farfetch Fashionable to Investors Again Is a Stretch - Andrea Felsted
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Making Farfetch Fashionable to Investors Again Is a Stretch

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09.11.2023

When Farfetch Ltd. came to market in a $7 billion initial public offering in 2018, it promoted itself as a way to tap into the huge online demand for luxury goods, without the big........

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