Fashion News

Online retailer Farfetch sales jump as the luxury market bounces back

After growing sales volumes in both the US and China, the company believes it is on track to deliver growth ahead of the luxury market at large

Farfetch’s luxury boutique in London

Farfetch shares jumped as much as 21 per cent in pre-market trading following financial results that beat Wall Street’s expectations, a sign that luxury retail could still be a port in the storm amid a slowdown in discretionary shopping.

Gross merchandise volume (GMV) — the total currency amount of processed orders — climbed to $931.7 million (€865.4 million) in the first quarter, Farfetch said last week, far exceeding the average analyst estimate of $904.9 million ...