LONDON, February 28, 2017 /PRNewswire/ --
The Farfetch Group announces that Dame Natalie Massenet, Founder of the Net-A-Porter Group and Chairman of the British Fashion Council, will join the Board of Directors as non-executive Co-Chairman of Farfetch, partnering with José Neves, CEO, Founder and executive Co-Chairman of Farfetch to continue to revolutionise the way the world shops for luxury fashion.
Massenet, one of the true pioneers of the luxury fashion industry, will bring her proven business acumen, intuitive feel and passion for the way technology can transform the consumer experience to the Farfetch business. She will have a particular focus on growing the global brand and strengthening its partnerships with the fashion industry.
Massenet and Neves' shared strategic vision of how fashion and technology can work together to amplify the consumer experience puts them in an unrivalled position to partner as co-Chairs and focus on the next stage of Farfetch's development as the leading global platform for luxury fashion.
Neves said: "I have, since Net-A-Porter launched, been a huge admirer of Natalie, she really is THE undisputed pioneer, paving the way for the rest of us by demonstrating that not only could luxury be sold online but also that the internet would eventually become the primary way consumers engage with brands, globally.
Natalie has unrivalled entrepreneurial instinct, understanding of the luxury consumer and knows how to build global brands like no one else. It is simply a dream come true to have Natalie partner with me, with a shared vision and tremendous will to - yet again - shape the future of luxury."
Massenet said: "I am honoured and excited to support José and the Farfetch team as they continue to build a unique vision of what the future of fashion and technology looks like. What Farfetch has done to rewrite the rulebook on how technology can work alongside bricks and mortar to elevate the customer experience stands out in the industry - when José asked me to come on board it was an opportunity I couldn't turn down. José is a true innovator, and I am thrilled to join him as he grows Farfetch into the online platform of choice for luxury fashion."
Massenet founded Net-A-Porter.com, the first luxury fashion shopping online store in 2000, building the company in 15 years into The NET-A-PORTER GROUP with TheOutnet.com, MrPorter.com PORTER Magazine and the social shopping platform the NETSET, creating one of the most powerful global online retail brands and forever changing the face of luxury shopping.
José Neves started programming at the age of 8, launched his first tech business in 1993 at the age of 19 and the Swear shoe label in London in 1996. In 2008 Neves merged his two passions for fashion and technology and launched Farfetch, the first global e-commerce platform for luxury fashion. Farfetch has ascended from its origins as a European start-up to a "unicorn business" and is now the number-one full-price destination for luxury shopping in terms of traffic, according to Alexa, ComScore and SimilarWeb.
Notes to Editors
The term 'Farfetch Group' covers all Farfetch's global subsidiaries, offices and the business units of the Farfetch.com platform, Browns, Black & White and Store of The Future.
Details of Store of The Future will be unveiled at the company's first conference, FarfetchOS, on 12 April where Neves and Massenet will make their first public address. More information about FarfetchOS: https://www.farfetchos.com/
@Farfetch @JoseFarfetch @Nat_Mass #FARFETCHforFASHION
About Dame Natalie Massenet
Dame Natalie Massenet founded luxury shopping giant, Net-A-Porter in 2000. The following decade saw Natalie build one of the most powerful global online retail, media and publishing groups encompassing net-a-porter.com, theoutnet.com, mrporter.com and the Net Set. With a team of over 2,500 people across London, New York, Hong Kong and Shanghai, Massenet shaped an extraordinary experience for the global luxury fashion consumer. In the year before Natalie stepped down from her role following the YOOX Net-A-Porter merger, the Net-A-Porter-Group recorded net revenues of $1billion.
Natalie began her career as a journalist and fashion editor, working at WWD and Tatler. In 2009, Natalie was awarded an MBE, and in 2016 she was made a Dame Commander of the Order of the British Empire; both in recognition of her contributions to the UK fashion and retail industry. Natalie has been Chairman of the British Fashion Council since 2013, and was appointed a UK DTI Business Ambassador in March 2016.
- Farfetch partners directly with over 750 designers and fashion boutiques across 40 countries, providing them with an unrivalled e-commerce platform to connect and sell to over 1 million customers in over 190 countries selling both womenswear and menswear
- Farfetch showcases the world's greatest selection of luxury from over 1,500 brands
- Farfetch is a true global omni-channel platform with the proprietary end-to-end API at the core of an unrivalled technology and logistics network
- This API powers the Farfetch.com platform and shopping app in 9 languages; and Farfetch Black & White, the white label division powers the websites of BrownsFashion.com, ManoloBlahnik.com and ChristopherKane.com, among others
- Farfetch offers same day delivery in 10 cities: London, NY, Paris, LA, Miami, Madrid, Milan, Barcelona and Rome; click & collect and returns in store.
- "Store of The Future" is a customised suite of technologies which have been developed in order to help brands and boutiques enhance the customer journey by bridging the offline and online worlds
- The Farfetch Group grew at +70% over the 12 months ended 31/12/16 based on the value of goods traded across the platform
- In the three months ending 31/12/16 the core marketplace delivered significant underlying profitability
- The core market place grew traded merchandise value by +75% across Q4
- $800m USD in gross sales across Farfetch Group in the calendar year ended 31/12/16
- Approximately 10 million site visits per month
- Over 60% of traffic from mobile and tablet
- 9 local language sites: Russian, Japanese, Chinese, German, Korean, Spanish, French, English and Portuguese
- Offices in 11 global locations with almost 1,500 employees: London, Porto, Guimarães, Lisbon, Moscow, New York, Los Angeles, Tokyo, Hong Kong, Shanghai and São Paulo
- Customers spend on average $700 USD per order
- Customer base grew by +65% in the past 12 months
- Proprietary API-first omni-channel platform, developed by a team of 500 engineers and product experts, planned to grow to 1000 by 2018
- Browns, est. 1970, was acquired in May 2015, with Holli Rogers appointed as CEO. Under Holli's leadership turnover has multiplied by 3 in the last 12 months
- May 2016 Farfetch secured a Series F round of investment of US $110 million, led by new investors Temasek, IDG Capital Partners and Eurazeo with existing investor Vitruvian Partners also participating in the round.
- The company is currently valued at over US $1 billion
SOURCE Farfetch Group