Farfetch foresees sales growth of 35%

 In Companies, News, Unicorns

The Anglo-Portuguese company Farfetch forecasts a growth in sales of 35% to 40% for this year compared to 2020 to a turnover of between €3.0Bn and €3.1Bn.

For the second quarter, the digital platform should see a growth in sales of between 40% and 45% for our digital platform for the whole year. If we take into account the two years 2020 and 2021, this will represent a growth of between 91% and 100%,” the company’s director of operations, Luís Teixeira told Jornal Económico, highlighting the Chinese market as an opportunity.
In the first quarter, the company gained 480,000 new customers: “China continues to grow at a fairly accelerated health and continues to gain market share within our sales (area). The US, which is an even bigger market than China also continues to grow. In the last four weeks of the quarter we enjoyed very strong growth from the US,” said Luís Teixeira.
“Then we have the Middle East and the United Kingdom. Overall, there is a clear change in paradigm in the market as a whole and particularly in the luxury market, all of these brands and boutiques are riding the wave of this opportunity,” he said.
The company led by José Neves enjoyed profits of US$516 million compared to the US$79 million losses it recorded for the homologous period.