Farfetch, A Fashionable E-Commerce Platform, Rose By 56% To 1 Billion 400 Million Dollars Last Year Compared With The Same Period Last Year. GMV

Recently, the British fashion luxury business platform Farfetch group released the core data of fiscal year 2018.

It is reported that as of December 31, 2018, group GMV (website turnover) rose 56% to 1 billion 400 million U.S. dollars, a record high, gross margin of 48.2%.

At the same time, revenue increased by 56% to $602 million, the annual growth rate was two times that of the industry average, and the annual after tax loss was 155 million 500 thousand dollars.

The losses in the fourth quarter narrowed to 9 million 900 thousand US dollars compared with 54 million 800 thousand US dollars in the same period last year. The number of active users of the platform rose 45% and the number of orders increased 58% in the fourth quarter.

It is worth mentioning that Farfetch formally announced the strategic cooperation with Jingdong, a well-known e-commerce platform, to provide the luxury brands with the preferred channel to enter the Chinese market.

According to the agreement, Jingdong's Toplife, an independently operated luxury business platform, will merge into Farfetch's China business.

It is understood that this in-depth partnership is based on the successful cooperation between Jingdong and Farfetch in July 2017, and Jingdong is one of the larger shareholders of Farfetch.

In addition, Farfetch will get the first level entry of Jingdong APP, covering more than 1000 luxury brand and boutique partner networks through Farfetch, allowing Jingdong users to purchase more than 3000 luxury brand goods conveniently.

At the same time, Jingdong announced that Liu Qiangdong immediately stepped down as a member of the board of directors of Farfetch and was succeeded by Liao Jianwen, chief strategist of Jingdong.

It is worth mentioning that Jingdong released the fourth quarter earnings report in February 28, 2019, the net income rose 22.4% to 134 billion 800 million yuan in the same period last year, and the net income of the whole year rose 27.5% to 462 billion yuan, up more than analysts expected.

During the reporting period, the operating profit margin of Jingdong mall was 1.6%, higher than that of 1.4% in 2017, with a net loss of about 4 billion 800 million yuan.

After the release of the earnings report, Jingdong shares rose 4.54% to 27.12 dollars, with a market capitalization of about 39 billion 200 million dollars.

According to statistics, as of December 31, 2018, the number of active users of Jingdong in the past 12 months was 305 million 300 thousand, and the number of active users in the same period last year was 292 million 500 thousand.