Farfetch delivers $43,000 fur coats via an app. Here's the data behind the company that's about to IPO.

3 months ago by James Mattone in Facts, Features, Trends

E-commerce isn't all deals, bargains, and free shipping. In the case of Farfetch, it's $43,000 fur coats and $32,000 watches delivered to your door, and by most accounts, there is enough of a market for such high-end items that it's not just doing well: it's about to go public.

Founded by José Manuel Ferreira Neves in June 2007, Farfetch's ($FARFETCH) mission is to be "the global technology platform for luxury fashion, connecting creators, curators and consumers," according to its IPO applicationThe online luxury fashion retail platform made $385.9 million in 2017 — a year where it reportedly had almost a million active customers — while posting after-tax losses of $112.2 million.

We track inventory, social, and Glassdoor data for the startup, which, when combined paint a useful, external data portrait of the company as it seeks public investment. Here's some of that data broken down.

What does Farfetch sell?

Right now, Farfetch sells over 100,000 products, ranging from "budget-friendly" fashion brands such as Kate Spade ($NYSE:KATE), Nike ($NYSE:NKE), and Levi's jeans, to fine watches, fur coats and other budget-breaking items that go for tens of thousands of dollars.

Out of all those products up for sale on August 29, 2018, the average price was $592.65

Breaking it down by category, an average women's handbag on the platform will run you over $1,100, while the average pair of women's shoes costs $529. 

In terms of what exactly is being sold on the website, our database tracks every single product and its various styles, which gives an idea of what brands are giving the most inventory variety. That title goes to Prada ($HK:1913), a company known for its designer handbags, followed by rival fashion house Yves Saint Laurent.

Brand Name (Count)
Prada 3810
Saint Laurent 3769
Dsquared2 3627
Dolce & Gabbana 3528
Gucci 3526
Valentino 2739
Alexander McQueen 2544
Marni 2499
Fendi 2325
Givenchy 2217

Most-expensive items sold by Farfetch

With plenty of designer brands on offer, you might wonder what the most farfetched (pun intended) and expensive fashion statement is on the website. On August 26, seven out of ten of the most expensive items on the platform were listed for $30,000 or more.

Name Brand Price ($)
Raglan Sleeve Fur Overcoat Thom Browne 43,100
Executive Skeleton Tourbillon 45mm (Watch) Ulysse Nardin 38,000
Laureato 38mm (Watch) Girard-Perregaux 36,020
Diver Chronograph 44mm (Watch) Ulysse Nardin 35,000
Lotta sleeveless fur coat Liska 32,950
Marine Chronometer 43mm (Watch) Ulysse Nardin 31,800
Sleeveleshort Sleeve Cardigan Coat In Long & Sheared Mink Fur Applique On Tulle Thom Browne 30,000
Laureato Chronograph 38mm (Watch) Girard-Perregaux 29,610
Clou diamond watch Christian Koban 28,553
Marine Tourbillon Manufacture 43mm (Watch) Ulysse Nardin 28,000

Most of these bank-busting fashion pieces are from luxury Swiss watch manufacturer Ulysse Nardin, which is part of the French luxury group Kering S.A. ($EPA:KER) that also owns Alexander McQueen, Gucci and Balenciaga.

But the most expensive single item, a fur coat from New York City-based designer Thom Browne, is definitely a stand-out among the ultra-expensive flashy timepieces.

App ratings

Farfetch is available both as an app and website, allowing fashionistas to order from their iPhone or Android phone (or laptop, of course). On both devices, the Farfetch app does well, touting a 4.3 star rating on the Google Play Store and a full 5 stars on the Apple App Store.

 

As well as filing for its IPO this past week, Farfetch recently purchased an app called Fashion Concierge that was founded by Daniela Cecilio, the second wife of Farfetch's CEO. No word yet on what this would mean for its mobile application, but it will be interesting to see how it will be integrated with what's currently working for them.


Social media presence

Along with its sales success, Farfetch has a strong presence on social media. On Twitter, its following is relatively steady above 80,000 accounts, while its Facebook page is inching closer towards the 2 million like count as the end of 2018 approaches.

Outside of its page, users are talking about the brand all around Facebook. Since we started tracking its Facebook presence in April 2017, Farfetch's most-impressionable time of year was during the holiday season, right around when the New York Times profiled the "luxury e-tail" industry as part of its year-end issue (and when people scramble for gifts):

Employee workplace ratings

In terms of the company's internal health, Farfetch employees are applauding its CEO, giving José Neves an impressive 92 percent approval rating on Glassdoor.

As Farfetch is preparing to go public, its current and outgoing workforce is beginning to grow uncertain, or even worried, of the company's future. Since the new year, its business outlook rating, based on how employees think the company will fair in the next six months, dropped nearly 20 percent.

Hiring practices

Although its future is uncertain, Farfetch has plenty of opportunities for those interested in joining it rather than investing. Overall hiring is up since the beginning of the year, but slightly down as it makes its bid to become a publicly traded company.

Most of these listings are for jobs based at its headquarters in the United Kingdom, or at several of its offices in Portugal.

Country Title (Count)
Portugal 153
United Kingdom 103
China 27
United States 13
Japan 7
Brazil 3
Russia 1
Hong Kong 1

Heading to IPO

Farfetch filed to go public on the New York Stock Exchange under the ticker FTCH. The company is aiming for a $5 billion valuation and, given the size of the global market for personal luxury goods — $307 billion in 2017 according to Bain — Neves and company just may hit those marks.

"We are a technology company at our core and have created a purpose-built platform for the luxury fashion industry. Our platform consists of three main components: applications, services and data," the company noted in the filing.

James Mattone

James is a recent Boston University graduate who calls the world of esports and video games his home. As a young journalist, he has already covered two E3 expos a...

Learn more about Thinknum data today Request demo

Request a demo

We would love to show you how Thinknum will benefit your investment process. To get started, fill out the form and we'll contact you shortly to schedule your demo.

The best of media, delivered to you

Get a newsletter of our most popular stories of the week.