Farfetch reports revenue up 35% in 2021

Worldwide
Published:  02 March, 2022
Credit: Farfetch

The luxury fashion e-commerce platform has reported its 2021 financial results, with revenue up 35% year-on-year to US$2.3 billion.

Meanwhile, gross merchandise value (GMV) for the year was US$4.2 billion, up 33% on 2021 and a 98% increase on pre-pandemic 2019.

Revenue for Q4 alone was up 23% to US$666 million, while GMV was US$1.3 billion. Gross profit margin for the company in the final quarter of the year came in at 47.1%.

In October 2021, Farfetch announced its first private label, There Was One, focused on sustainability and longevity.

José Neves, Farfetch Founder, Chairman and CEO, said: “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 runners-up, and expanding profitability.”