Latest news with #FarfetchAdvertising
Yahoo
2 days ago
- Business
- Yahoo
Farfetch Supercharges Advertising Service for Brands on the Platform
LONDON — Under new owner Coupang, Farfetch is expanding and ramping up support for the brands on its platform with the relaunch of its in-house advertising business. WWD has learned that the business, known until now as Media Solutions, is relaunching as Farfetch Advertising. The aim is to give regional brands the opportunity to reach a wider audience, and global brands the potential to accelerate their growth. More from WWD Farfetch Pushes Into South Korea, One of the World's Biggest Luxury Markets The Grand Tour Is Back. Are You Invited? Ambush Founders Buy Back Majority Stake From New Guards Group An announcement is expected today. Farfetch argues that optimizing for specific markets and using targeted marketing techniques can drive a 'significant performance uplift' across all companies and product categories. The fashion e-commerce platform said brands such as Versace, Dolce & Gabbana, Essential Antwerp and Boggi Milano have already witnessed 'measurable benefits' in terms of traffic and return on ad spend. Like its predecessor Media Solutions, Farfetch Advertising is a paid-for service available to current partners and brands, and others outside the Farfetch ecosystem looking for increased visibility. Farfetch said the relaunched advertising platform has been designed to address marketing challenges unique to the luxury industry, 'such as understanding the complex path to purchase, building brand equity and ensuring brand safety.' Caroline Cochin de Billy, vice president supply partnerships at Farfetch, said the company is 'committed to providing our partners with a service that enables them to truly stand out. Our advertising solutions are a gateway to access untapped customer segments and drive measurable uplift within a strictly luxury environment.' Emanuele Bicocchi, founder and chief executive officer of the eponymous Milan-based jewelry brand, said the Farfetch ad service has 'allowed us to increase global awareness and communicate who we are in markets where we have no physical presence or wholesale partners, such as Mexico, Brazil and Australia. We've been able to reach a more diverse audience and share a more inclusive, genderless vision.' Timex Group said its recent campaign for Versace watches helped it drive 'meaningful brand engagement and visibility during a key sales period. The versatility of the campaign, particularly through sponsored products and social amplification, delivered measurable results and outstanding return on investment.' The enhanced service is being launched alongside a dedicated website that gives brands direct access to the Farfetch ad team. Coupang has been moving quickly to fortify Farfetch after purchasing the company out of administration at the end of 2023. Earlier this month the company announced plans to push into South Korea, one of the world's hottest luxury markets, through an integration with the app, Coupang's luxury vertical in the country. Farfetch said it wants to leverage the local services and operational network in the region, where its business is still small. On Coupang's watch, Farfetch achieved revenues of $1.7 billion in 2024, while losses narrowed to $34 million. In February, Coupang said the business was on a 'positive trajectory,' and turned a profit in the fourth quarter. There are currently 1,400 brands, boutiques and department stores on the Farfetch platform, which serves customers in more than 190 countries and territories. The site has 40 million monthly unique users and the company said most of them are Gen Z and Millennials. Best of WWD Longtime Vogue Editor Grace Mirabella Dies at 91 First Lady Dr. Jill Biden Helps Forbes Celebrate Its 50 Over 50 List Mikaela Shiffrin Gets Personal in New Series for Outside+ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion United
2 days ago
- Business
- Fashion United
With a new ad business, has Farfetch found its feet under Coupang?
Farfetch was once the undisputed pioneer of luxury fashion online, a platform that married technological innovation with an insider's grasp of fashion's nuanced codes. But following its high-profile acquisition by South Korea's Coupang at the end of 2023, the company has entered a new chapter, one marked less by editorial curation and more by commercial optimisation. The recent relaunch of its in-house advertising division as Farfetch Advertising reflects this pivot. According to WWD, the move aims to boost reach and returns for both global powerhouses like Versace and regional names looking to scale. Yet in doing so, Farfetch edges closer to a transactional model that risks blurring its once-distinctive identity. That said, under Coupang's stewardship, Farfetch has found new footing. Revenues hit 1.7 billion dollars in 2024 and losses narrowed significantly, with the company even turning a profit in Q4, no small achievement in today's tightening digital retail landscape. Coupang has brought operational discipline and a growth plan that includes expanding into high-potential markets like South Korea via its app. Still, as Farfetch shifts from cultural curator to commerce engine, the challenge lies in balancing scale with soul. Visibility may now be stronger, but luxury's long-term value lies in its ability to inspire, not just convert.
