{"id":165712,"date":"2020-02-28T21:42:00","date_gmt":"2020-02-28T21:42:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/farfetch-revenues-exceed-1bn-after-69-growth\/"},"modified":"2021-08-06T12:04:51","modified_gmt":"2021-08-06T12:04:51","slug":"farfetch-revenues-exceed-1bn-after-69-growth","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/farfetch-revenues-exceed-1bn-after-69-growth\/","title":{"rendered":"Farfetch revenues exceed $1bn after 69% growth"},"content":{"rendered":"
Farfetch has recorded revenues up 69% to $1.02bn in the 12 months to 31 December<\/strong> but, as yet, the global luxury platform has yet to turn a profit though its founder says it is \"marching towards profitability\".<\/p>\n
<\/p>\n
Gross merchandise value on the platform was up 52% to $2.14bn<\/strong> over the year and gross profit was up from $298m in 2018 to $460m, however loss after tax was almost $364m, compared to $155.m in the prior year. Its loss at adjusted EBITDA level was $121m<\/strong>, compared to $96m in 2018, which resulted in an improved margin of -13.6%, versus 2018's -19%.<\/p>\n