But just like any other white-label solution, it can be assumed that it is comprised of a fixed payment (for the initial app and website development, amongst others) and revenue sharing agreement (i.e. ", Farfetch, Revenue of Farfetch in the financial year 2021, by region (in 1,000 U.S. dollars) Statista, https://www.statista.com/statistics/1101708/ecommerce-revenue-farfetch-by-region/ (last visited May 01, 2023), Revenue of Farfetch in the financial year 2021, by region (in 1,000 U.S. dollars) [Graph], Farfetch, February 28, 2022. Items that may be subsequently reclassified to the consolidated statement of operations (net of tax): Loss on cash flow hedges recognized in equity, Other comprehensive income/(loss) for the year, net of tax, Total comprehensive (loss)/income for the year, net of tax, Unaudited condensed consolidated statement of financial position, (Deficit)/equity attributable to owners of the parent, Unaudited condensed consolidated statement of cash flows. Consequently, these brands are distributed on a wholesale basis to a variety of boutiques, retail and online stores for sale. General and administrative expense increased by $14.9 million, or 10.5%, year-over-year in fourth quarter 2021, reflecting investments made to support longer-term strategic initiatives including brand campaigns. See Non-IFRS and Other Financial and Operating Metrics on page 24 for reconciliations of non-IFRS measures to IFRS measures. Continued to Capture Share in Online Personal Luxury Goods Market with Platform GMV Up 56% in 2018 - Growing More Than Twice as Fast as the Overall Online Industry - and Up 51% in Q4 2018. Founded in 2007, Farfetch has grown to become one of the worlds leading online fashion marketplaces. Represents other items, which are outside the normal scope of our ordinary activities. "Revenue of Farfetch from financial year 2015 to 2022 (in million U.S. Revenue increased by $157.9 million year-over-year from $382.2 million in fourth quarter 2019 to $540.1 million in fourth quarter 2020, representing growth of 41.3%. Life became a lot easier when the firm was able to secure its first round of funding, raising $4.5 million from Advent Venture Partners in July 2010. Items excluded from the Non-IFRS Measures are significant components in understanding and assessing financial performance. Digital Platform Services first-party revenues represent sales net of promotional incentives, such as free shipping and promotional codes, where these incentives are not designated as Farfetch-funded. The $166.7 million of remeasurement losses in fourth quarter 2020 primarily related to the remeasurement losses in connection with the Chalhoub Groups put option over the non-controlling interest in Farfetch International Limited. Learn more about how Statista can support your business. This was partially offset by $500 million cash proceeds related to the investment in Farfetch China by Alibaba Group and Richemont in August 2021. Please do not hesitate to contact me. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Farfetch is a British-Portuguese online luxury fashion retail platform that sells products from over 700 boutiques and brands from around the world. Farfetch said revenue rose 35 per cent to $2.3 billion in 2021 over 2020, breaking $2 billion for the first time, driven by increased volume on the Farfetch marketplace and sales at Off-White parent New Guards Group. LONDON--(BUSINESS WIRE)-- https://www.businesswire.com/news/home/20220224005894/en/, Investor Relations Contact: Farfetch Company History Farfetch, headquartered in London, UK, was founded in 2007 by Jos Neves who remains to lead the company as CEO to this date. For further information on how we protect your information, please refer to our, Farfetch Announces Fourth Quarter and Full Year 2021 Results, https://www.businesswire.com/news/home/20220224005894/en/, See Revisions to Previously Reported Financial Information in Notes and Disclosures on page 21. Order Contribution means gross profit after deducting demand generation expense, which includes fees that we pay for our various marketing channels to support the Digital Platform. Apart from its online stores, shoppers can furthermore visit Farfetch-branded physical stores. Started by Jose Neves, Farfetch now has two million active users in 190 countries engaging with 500 brands and 700 boutiques. Revenue increased by $182.2 million year-over-year from $255.5 million in third quarter 2019 to Since Farfetch was self-funded, Neves even had to take out loans for his other businesses (Swear and B Store) and lend that money back to Farfetch. Plus, one can use the platforms traffic to increase sales volumes. General and administrative expense decreased as a percentage of Adjusted Revenue to 27.4% compared to 30.5% in fourth quarter 2020 as we continued to leverage our operations base to efficiently grow Adjusted Revenue. Moreover, we are positioned to emerge stronger than ever, as an industry leader delivering strategic value to brand partners and an unmatched proposition for consumers. Farfetch Revenue 2018-2022 | FTCH | MacroTrends Boutiques on Farfetch undergo a rigorous verification process to ensure that the products they sell are legit and of high quality.