LONDON – Farfetch, one of fashion tech’s highest-profile companies, saw global revenue grow at breakneck speed in 2016, while losses widened, according to its latest filing at Companies House in London.Farfetch, one of the U.K.’s first retail unicorns which is now valued in excess of $1 billion, saw after-tax losses widen to 34 million pounds from 28.7 million pounds on revenues that grew 74 percent to 151.3 million pounds.In the 12 months to December 31, 2016, the company’s operating loss grew to 33.5 million pounds from 26.5 million pounds.The results pertain to Farfetch.com, the sales platform for luxury boutiques worldwide, and part of the Farfetch Group.In the statement, the company said Farfetch is showing “strong growth in both demand for, and supply of, products through the Farfetch platform. The company is confident in its future outlook, and well placed to manage its business risks successfully despite the current uncertain economic outlook."On Tuesday, after the results were posted on Companies House, the official register of U.K. businesses, founder and chief executive officer Jose Neves called Farfetch “a fast-growing company at an exciting stage in its journey, with over 21 million visits to our websites every month and relationships with over 500 partner boutiques and 200 brands.”He said “the trajectory of rapid growth and substantial investment continued in 2016, and we are pleased to have seen 81 percent growth in gross merchandise value, as well as strong growth of 74 percent, in revenues.”He said the program of investment has been designed to support the company’s ambitious growth plans and, over the year, investments were focused on technology, as well as customer acquisition and hiring. “We have very strong foundations in place and will continue to invest and grow our business as we build the definitive technology platform for the luxury industry,” he said.The company continued on its expansion and investment trajectory in 2017, acquiring Style.com from Conde Nast, naming Natalie Masssenet as non-executive co-chairman and adviser, setting a share option scheme for employees and launching its Store of the Future concept at its first OS event in London.It also scored a $397 million investment from JD.com, to fuel growth in the Chinese market. JD joined investors Temasek, IDG Capital Partners and Eurazeo and Vitruvian Partners.Despite persistent rumors, the company has said an IPO is not on the cards at the moment. "We’re concentrating on growing the company right now," said a spokeswoman on Tuesday.Separately, the Farfetch Group-owned retailer Browns also filed its results on Companies House.The retailer, which Farfetch is using as a laboratory to experiment with online and offline retail, saw its revenue more than double to 36.9 million pounds, while losses widened to 6.4 million pounds from 369,330 pounds in the 17 months to December 31, 2016.The Browns statement said the company is showing “strong growth” and has continued to invest in omni-channel technology and in brownsfashion.com, which has been a key driver of sales. “The company is confident in its future outlook,” the statement said.Last month, Browns opened its first Nomad concept store in east London and closed its Sloane Streeet shop. It is also set to refurbish its South Molton Street flagship and will continue to build its online presence.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast