Richemont: Why a deal with Farfetch is not guaranteed? 


The world’s leading online luxury goods retail platform has reported good economic results for its first quarter of 2022 despite the dark clouds brought by the situation in Ukraine-Russia and China; while it remains in talks with Richemont about signing a partnership agreement.
Farfetch, which has very quickly become the market leader in the sale of fashion and luxury products, has nevertheless achieved a good first quarter. In the first quarter ended March 31, 2022, its revenue increased 6.1 percent year over year to $514.8 million (about €478.8 million).
In addition, the gross merchandise value (“GMV”) of the Q1 2022 platform amounted to $930.8 million (€865.7 million), an increase of 1.7% year-on-year. As for the gross margin for the first quarter of 2022, it was 44.8%.
However, Farfetch was quick to point out a significant slowdown in sales in the first quarter of 2022, and revenue growth also slowed by 6% in the same period.
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Featured photo : © Farfetch
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