Industry News

Shares of luxury online marketplace Farfetch surges 53 percent in IPO’s first day of trading

Many congratulations to London’s Farfetch, the fashion marketplace and Renovata client, on a hugely successful market debut. CNBC reports that the business opened 50% up on Friday September 21st, peaking on the day at $30.60 per share following a purchase peg of (an already increased) $20.00.

CNBC notes that Farfetch’s success is based on its position as a platform for high-end retail, rather than a retailer in its own right – which means that the business neither has to hold expensive stock, nor ride the uncertainties of changing consumer sentiment.

Indeed, Farfetch has carefully trodden this path throughout its growth; from its beginnings as a bazaar in which local/one-outlet boutiques could leverage a global audience, through to today’s end-to-end offering to high-end brands: service, shipping, and above all, brand protection.

The journey continues with significant investment in bricks-and-mortar to envision the luxury retailer of the future.

Read the full article here:

https://www.cnbc.com/2018/09/21/farfetch-ipo-jumps-43-percent-in-first-minutes-of-trading.html