Last Updated on February 24, 2024
Farfetch is a household name in the online luxury fashion business. The retail platform has been around for nearly 15 years, during which it has racked up a decent amount of positive feedback.
However, not all Farfetch reviews are positive and encouraging. Some reviewers appear to cast aspersions on the company’s credibility.
If you’ve never transacted on the Farfetch marketplace before, you might be wondering if the website is worth your time and money. Hopefully, those concerns will be settled by the time you’re done reading this comprehensive Farfetch review.
What Is Farfetch?
Farfetch is a British-Portuguese online retail platform for luxury fashion products, including apparel, shoes, jewelry, and related accessories. The website features products sourced from over 1,400 boutiques and brands spread around the world.
Founded in 2007 by renowned Portuguese entrepreneur José Neves, Farfetch got off to a rather slow start before growing into the giant online luxury fashion retailer that we know today. The company has its headquarters in London, United Kingdom, but also operates its primary branches in Lisbon and Porto, both in Portugal.
In addition to its main operation centers, Farfetch has offices in several countries worldwide. Examples include New York City and Los Angeles in the United States, Braga and Guimarães in Portugal, São Paulo in Brazil, Moscow in Russia, Shanghai and Hong Kong in China, Dubai in the United Arab Emirates, and New Delhi in India.
Company Summary
- Name: Farfetch
- Industry: E-commerce
- Year Founded: 2007
- Founder: José Neves
- Countries of Origin: Britain and Portugal
- Headquarters: London, United Kingdom
- Availability: Worldwide
- Current Status: Active
- Official Website Link: http://farfetch.com/
How Did Farfetch Begin?
Farfetch was founded by José Neves in 2007, but officially launched the following year. Although the company got off to a shaky start, it eventually carved out a niche for itself in the online luxury fashion business.
In May 2015, Farfetch purchased London-based boutique retailer, Browns. The same year, the company developed its first-ever proprietary business units, namely Store of the Future and Farfetch Black & White.
Farfetch continued to gain mainstream attention from customers and investors alike. In June 2017, the online luxury fashion house sold some ownership stake to JD.com for $397 million. The company eventually went public in September 2018 and subsequently listed on the New York Stock Exchange (NYSE).
The following are other major investments that Farfetch has undertaken over the years;
• Acquiring the sneaker website Stadium Goods in December 2018 for $250 million
• Acquiring New Guards Group in August 2019 for $675 million
• Signing a joint partnership deal with Alibaba and Richemont in November 2020
• Acquiring Los Angeles-based retailer Violet Grey in January 2022 for an undisclosed sum
Besides offering luxury fashion commodities from various brands, Farfetch also has its own in-house fashion brand. The brand, known as ‘There Was One,’ was launched in October 2021.
How Big Is Farfetch?
Farfetch maintains an extensive digital platform that’s available in over 190 countries and territories. The marketplace also features luxury fashion products from over 50 countries, drawn from more than 1,400 globally-renowned brands and boutiques.
And as already mentioned, Farfetch owns London-based boutique Browns, the online sneaker platform Stadium Goods, New Guards Group, and Los Angeles retailer Violet Grey. The company has also inked lucrative investment deals with other established brands like Alibaba, not to mention its own in-house brand called There Was One.
What Is Farfetch’s Business Model?
Farfetch is primarily a dropshipper. The company’s business model doesn’t require it to keep real inventory. Although the luxury fashion house has its own brand, it mainly sells products sourced from third-party boutiques and brands.
Farfetch deploys a powerful back-end technology in sourcing its products from other retailers around the world. These products are then featured on Farfetch’s website. When a buyer makes a purchase, Farfetch makes arrangements with the responsible retailer to fulfill the order.
How Does Farfetch Make Money?
Now that Farfetch doesn’t need to maintain real inventories of the items it offers, you might be wondering how the company generates revenue.
Well, Farfetch mainly earns from commissions levied on fulfilled orders, usually 30% of every sale value. The website also offers makes money from its white-label software solutions as well as from the sale of products under its in-house and affiliate brands.
Is Farfetch Available In My Location?
Farfetch avails its luxury fashion products to buyers spread in over 190 countries, states, and territories.
Examples of notable markets that the retailer serves include the United Kingdom, Portugal, the United States, China, Russia, Brazil, the United Arab Emirates, and India.
What Products Can I Transact on Farfetch’s Website?
Farfetch features all kinds of luxury fashion items, from apparel and watches to jewelry and anything in between.
The products are intuitively sorted into three categories, namely Men, Women, and Kids.
The popular categories for men include;
• Jordan Low-Tops
• Versace Shirts
• Off-White T-Shirts
• Common Projects Shoes
• Rick Owens Shoes
• FENDI Belts
• Brioni Glasses & Frames
• Palm Angels Hoodies
And the popular categories for women include;
• ZIMMERMANN Skirts
• ZIMMERMANN Blouses
• Prada Shoulder Bags
• Gucci Belts
• Vivienne Westwood Jewelry
• Hogan Shoes
• GIANNI Boots
• Isabel Marant Sneakers
Do I Need an Account to Buy/Sell on Farfetch’s Platform?
You can browse or search for items on Farfetch’s website. But you’ll need an account to buy or sell anything on the platform. Fortunately, the account sign-up procedure is quick and easy;
i. Head to Farfetch’s official website.
ii. Click on the user icon to display the sign-up page.
iii. Enter your name, email address, and password in the provided fields.
iv. Check the ‘terms and conditions’ box to proceed to the next page.
v. The new page will display a list of default settings, such as “manage buy back quotes and orders,” “receive your address details,” “offline access,” etc. Uncheck where necessary or leave everything as they are and click “Allow.”
vi. You’re all set up now and ready to buy or sell on Farfetch.
How Do I Sell On Farfetch?
To sell on the Farfetch platform;
i. Click “Start selling” from the company’s homepage.
ii. Enter your shipping country and product category.
iii. Upload product photos.
iv. Upload any additional elements.
v. Review your quote and submit it for approval.
vi. The quote will go live as soon as it’s approved by Farfetch’s admin.
How Do I Buy Items From Farfetch?
As with most online retail platforms, there are two primary methods of finding stuff on Farfetch’s website.
You can browse the homepage or the various product categories. Alternatively, you can search for the items directly using the search box located at the top right of Farfetch’s homepage.
After finding the product you’re looking for, proceed as follows;
i. Read the product’s description to be certain it’s what you need.
ii. Read client reviews.
iii. Select your size and color (where applicable) and click “Add To Bag.”
iv. Proceed to checkout by specifying your delivery preference and payment method.
v. You’ll receive an email notification confirming that the purchase went through alright.
How Do I Pay For Goods On Farfetch?
Farfetch supports multiple payment getaways, including PayPal;
• Visa
• MasterCard
• American Express
• Maestro
• Discover
• JCB
• Diners
• JDpay (only supported in China mainland)
• PayPal
• Apple Pay
• Klarna
• Alipay
• Afterpay (only supported in Australia
• HB Pay (only supported in China mainland and Hong Kong)
• UnionPay
• WeChat
• Boleto (only supported in Brazil)
• iDEAL (only supported in the Netherlands)
How Much Do Farfetch Items Cost?
Products on Farfetch’s website vary in price depending on the brand and affiliate boutique. That means Farfetch has no control over price fluctuations on its platform.
Also, the shipping fees vary depending on the purchase volume and weight, as well as your destination.
How Does Farfetch Handle Shipping and Returns
Farfetch offers same-day delivery services to various locations, including London, New York City, Los Angeles, Berlin, Paris, etc. However, the delivery period typically ranges between 2 and 7 days depending on your location.
In terms of purchase returns, Farfetch will only accept returns made within fourteen days of the delivery date. Buyers making returns are entitled to a full refund if the case is determined in their favor.
Is Farfetch Legit?
Farfetch is a legitimate online luxury fashion retailer. Although the company has generated mixed feedback from most of its previous customers, there are no reviews explicitly pointing out scam activities on the platform. The luxury fashion retailer currently enjoys 3.6/5 stars on TrustPilot and 3.13/5 stars on Site Jabber.