Farfetch is a global e-commerce company. It connects shoppers with more than 400 luxury boutiques through a single Internet storefront for a seamless logistical experience for shoppers and sellers. Farfetch offers any small mom-and-pop shop a sleek, streamlined online shopping technology to power e-commerce. It also offers logistical intelligence for global same-day delivery amd in-store returns, and provides access to a growing base of high-end clientele all over the globe. By sending scouts around the world to canvas for local boutiques, Farfetch has signed on boutiques based in 35 countries and ships to customers in 190 countries, generating a revenue of $500 million in 2015. The company has offices in 10 of those countries and offers customer service in 10 languages--even adjusting sales to the cultural customs of each place (for example, Brazilians like to pay in 12-month installments). But Farfetch--founded in 2008 by Jose Neves--doesn't just cater to small boutiques. In 2015, the site opened its doors to high-end fashion brand Jason Wu, offering all of Farfetch's online ammo for logistics as well as a luxe, department store-like feel. Now, the company will focus on growing its customer and designer base while streamlining its operations to keep improving its user experience on both ends.
The company's competitive advantage in 2016:
Streamlined platform with proven logistics
The biggest challenges standing in this company's way in 2016:
Maintaining its global reach and customer service throughout different countries and customer expectations
What to look out for:
Growing its designer base on the platforms
Social media handles: