Farfetch chief executive José Neves hailed the luxury fashion etailer’s “strong momentum” as the business delivered strong fourth-quarter and full-year sales growth.

Farfetch founder and chief exec José Neves

José Neves said Farfetch was set up for ‘an incredible 2022’

Farfetch recorded a 35% rise in revenue in the full year to December 31, 2021, to $2.3bn (£1.7bn), while gross merchandise value (GMV) rose 33% year on year to $4.2bn (£3.1bn), up 98% on pre-pandemic levels.

This surge was aided by a 23% rise in revenue across its fourth quarter to $666m (£496m).

Farfetch’s delivered $36m (£26.8m) in fourth-quarter adjusted EBITDA and said it would deliver positive full-year adjusted EBITDA for the first time.

Neves said: “Our fourth-quarter results clearly demonstrate the strong momentum behind the Farfetch platform. We exit the year having once again delivered market share capturing GMV growth in 2021 along with our first year of adjusted EBITDA profitability. This positions Farfetch for an incredible 2022 focused on continuing to lead the online luxury fashion industry, growing faster than the runner-ups and expanding profitability.

“As we enter a post-pandemic environment… We are positioned to emerge stronger than ever, as an industry leader delivering strategic value to brand partners and an unmatched proposition for consumers. The accelerated digitisation of the luxury industry highlights the opportunity to leverage the unique capabilities of the Farfetch platform, to extend our track record of capturing market share while delivering further profitability.”

  • Get the latest fashion retail news and analysis straight to your inbox – sign up for our weekly newsletter

Topics