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Farfetch is becoming big business in the luxury world...
Is FARFETCH a good business? Yes. And in a COVID world, absolutely.
In 2019, e-commerce only accounted for 12% of luxury sales. And you know for a fact that number has skyrocketed going into 2021.
The stock posted great numbers in Q4 2020… outperforming with stronger than expected earnings. And with an announcement to partner with Alibaba Group to launch FARFETCH China, the path to profitability is imminent.
What’s exciting about this partnership is how engrained FARFETCH will be in Alibaba’s system, while still controlling 75% of the joint venture. This gives them leveraged to focus on quality control and also gives them access to Alibaba’s 750 million person shopping network. For context, FARFETCH had only 3 million in all of 2020. So yeah, I’d say they’re headed in the right direction.
The partnership plans to officially launch mid to late 2021. I’ve got my eyes peeled.
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