Fortrove News

Reports have confirmed that London-based online retail store, Farfetch has garnered an IPO of $885 million upon being made public on September 20th. The company's shares had jumped more than 50% since its launch in 2008. Founder and Portuguese entrepreneur José Neves's vision of a place for small boutiques to sell their wares online initially had shares for $20.

 “Our marketplace is very centralized,” Neves said in an interview with “The experience of when you shop in Farfetch is very similar to the experience of when you shop in a luxury department store. There’s one checkout, the same set of terms and conditions for everyone, it’s one customer service centre. Although [the customer service center] is scattered all around the world really, it’s one company, one touchpoint. So we really make sure the experience is consistent and it’s well curated.”

Farfetch is growing more popular each day, with 3,200 different brands represented, 5.7 million items currently on sale, and a 60% jump in revenue in its 2017 earnings, totaling to around $386 million. All of these numbers, and more, are according to the company's prospectus.