Following our hugely successful event with the creative director of Browns, Caroline Burstein in conversation with Condé Nast digital strategy director Dolly Jones, we’re pleased to announce that Browns has been acquired by Farfetch, for an undisclosed sum.
With acquisitions hitting the industry thick and fast – think Yoox acquiring Net-a-Porter, it’s no surprise that London’s preeminent fashion boutique has become the target of Farfetch’s greater expansion plan. Farfetch is a multi-brand online retailer and plans to develop and test new retail and omni-channel strategies with Browns via a new ‘Store of the Future.’
Net-a-Porter’s former fashion director, Holli Rogers will helm Browns as CEO, which will continue to run independently from Farfetch. Founder, Joan Burstein known throughout fashion as Mrs. B will continue in the boutique as an honorary chairman, whilst her daughter and Industry member Caroline, and her brother, Simon will act as advisors and sit as members on the board of directors.
José Neves, founder of Farfetch told The Business of Fashion, “Physical experience will be important and key to the future of fashion… We had to be able to iterate and demonstrate this vision in one iconic retailer, just to be able to innovate fast enough. It was clear that we wouldn’t get there without having this fantastic showcase that Browns is now going to be for us. This is not about changing the DNA of Browns — on the contrary. It is a big strategic move from Browns’ perspective — how can we move what is a fantastic brand and DNA into the next decade and future-proof it?”
Browns was founded in 1970 by Joan Burstein and is known globally as the launch pad and champion for some of the word’s most renowned brands: John Galliano, Christopher Kane and Comme des Garçons.
Farfetch raised $86 million in its last funding round and is now valued at $1 billion. The new ‘Store of the Future’ division, will be led by regular Industry attendee, Sandrine Devaux, previous multi-channel director of Harvey Nichols.
Watch highlights of our Caroline Burstein interview on IND-TV.