Online fashion platform Farfetch Limited has had an exciting six months. A few weeks ago, the company partnered with Salvatore Ferragamo, and on Wednesday Farfetch acquired shares in Yoox Net-a-porter. A “big step” for Farfetch on the way to becoming “the global platform for fashion”, writes the company in its semi-annual report.
That growth is reflected in the numbers: for the six months ended June 30, revenue grew to nearly $1.1 billion, compared to $1 billion euros) in the same period of the previous year. Profit after tax increased from around US$605 million (€605 million) to US$796 million (€769 million).
Farfetch Limited takes stock after a good second quarter with sales of 579.3 million US dollars (579.3 million euros), which corresponds to an increase of 10.7 percent compared to the same quarter last year. After-tax profit fell to $67.7 million from $87.9 million. This is partly due to a rise in inventory management costs and the integration of acquired businesses, such as beauty retailer Violet Grey, which has been part of Farfetch Limited since late January, or Luxclusif, which was acquired by Farfetch Limited late last year .
This translated post previously appeared on FashionUnited.nl.