Luxury online platform Farfetch said it saw “strong momentum” in Q2, driven by the acceleration of online adoption, helping it to make “significant” market share gains and connect to record numbers of new customers.
The Italian fashion group, bought by Farfetch in 2019 and owner among others of Off-White and Palm Angels, has appointed Cristiano Fagnani, a manager with a 20-year career at Nike, to the newly created post of CMO.
Farfetch saw its revenue almost doubling in the first quarter as lockdowns meant online was the only option for luxury fashion shoppers. The firm remains loss-making but says it's still on target for profits next year.
It will launch its drops strategy to maximise the opportunity for one-offs and exclusives provided by acquired firms such as Stadium Goods and New Guards, as well as its huge partner boutique and brand network.
Marcelo Burlon, the former DJ and co-founder of Off-White owner NGG, unveiled his new brand image in Milan with a richer, more couture collection that signalled a notable move towards a more high-end aesthetic.
New Guards Group, the Italian owner of Off-White and Heron Preston, acquired by luxury e-commerce giant Farfetch in 2019, has purchased Ambush, adding the Tokyo-based label to the company's already impressive portfolio.
This season, the Milan Fashion Week Men’s has teamed up with London, and will welcome a spate of new names and major comebacks, from Gucci to Ferragamo, to bolster its programme and make up for 11 withdrawals.
The Council of Fashion Designers of America (CFDA) has unveiled its provisional women’s ready-to-wear runway schedule for next February, and three of the country’s five most famous fashion houses are missing.