(Tiper Stock Exchange) – farfetchan online platform for the sale of fashion, luxury and design goods, has registered come in records in 2022 $2.3 billion, up 3% year over year (or up 12% year over year at constant currency). The revenues of fourth quarter 2022 decreased 5% year over year (or increased 2% year over year at constant currency) to $629 million. 2022 ended with a useful of 345 million euros (1.47 billion in 2021), while the fourth quarter saw a loss of 177 million (profit of 97 million in the last three months of 2021).
“I am proud to announce that Farfetch has deftly dealt with unprecedented macro headwinds through 2022 to deliver constant currency growth, with a full-year GMV of $4.1 billion,” he commented. José Neves, founder and CEO of Farfetch – Our performance also means that we have gained market share on a three-year basis, with GMV almost doubling since the start of the COVID-19 pandemic – a truly remarkable achievement”.
“Farfetch enters 2023 as a significantly more efficient company following our strategic reorganization and cost rationalization – he added – Our solid start to the year gives me confidence that 2023 will be a year of execution with growth throughout the year as we offset prior year macro headwinds and launch exciting new partners to deliver strong growth, Adjusted EBITDA and positive free cash flow.”
The company communicated that Elliot Jordan will step down by the end of 2023, after more than eight years as Chief Financial Officer (CFO). Farfetch will start a search process to identify his successor and Jordan has agreed to take on the role of Chief Financial Officer for the rest of the year.
(Photo: Photo by John Schnobrich on Unsplash)