Farfetch, the luxury-focused internet marketplace on the cusp of a New York IPO, has recently unveiled the debut cohort of start-ups it will be nurturing and financing through its groundbreaking Dream Assembly project. This bold initiative aims to harness the power of cutting-edge technology and services within the retail, luxury, and fashion realms. In a fiercely competitive landscape where industry titans are jostling for supremacy in the burgeoning fashion and luxury e-commerce sector, investing in start-ups will equip them with the requisite expertise and technologies to maintain a competitive edge in the market.
Presently, only about 9 percent of luxury sales occur online, a percentage anticipated to climb to 25 percent by 2025. With the global luxury goods market poised to exceed $450 billion by 2025, companies like Farfetch are actively seeking out promising start-ups that can help mold the future of commerce.
Farfetch has handpicked 11 start-ups operating across diverse fronts such as artificial intelligence, blockchain, virtual reality, and sustainable sourcing. Stephanie Phair, the chief strategy officer of Farfetch, exhibits unwavering confidence in the potential of these entitities to provide pioneering solutions. These start-ups will partake in a rigorous 12-week program in Lisbon, immersing themselves in workshops, mentorship sessions, and networking opportunities.
Among the chosen start-ups are firms like Shopvious from France, specializing in blockchain-powered digital certificates, and Fashpa from Nigeria, which links consumers with sustainable brands. Farfetch not only intends on providing financial backing but also granting access to invaluable resources and expertise through collaborations with esteemed entities like Burberry.
José Neves, the visionary founder and CEO of Farfetch, envisions a retail revolution spurred by digital technologies and heightened personalization. As the company gears up for its IPO on the New York Stock Exchange, Neves is embarking on an international roadshow to lure potential investors. Analysts project that Farfetch could boast a valuation of approximately $5 billion post-listing. Armed with a constellation of start-ups and a concrete plan for the future, Farfetch stands poised to wield a significant influence in the luxury and fashion e-commerce sphere.
Learn more about Farfetch’s Dream Assembly project here.
Discover more about Farfetch’s upcoming IPO and valuation predictions here.
