![]() ![]() Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper. Macroeconomic and demographic environment.GlobalData’s focus lies in the critical areas to get right: ![]() You can find a new home for bags that you no longer use, and put that toward future Farfetch purchases. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. How does Farfetch work for selling used fashion items Farfetch Second Life is a new program that enables you to sell designer bags from selected brands in exchange for Farfetch credit. As a result, global IPOs are expected to hit back this year. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. “A luxury re-sale programme like Farfetch Second Life, allows us to enter this market and test the demand of Farfetch customers for this kind of service.IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. “Like the online luxury market, the pre-owned luxury market is growing rapidly, and is likely to double in size to reach $51bn over the next five years,” Farfetch’s chief commercial officer Giorgio Belloli said. ![]() ![]() Now available to customers in the USA, UK, and Europe. If the customer accepts the price, a free courier will be sent to collect the bag, and the customer will be given credits worth the value of the bag to spend on Farfetch. FARFETCH Second Life Sell your designer bags, get some credit, and help give your pre-loved pieces a second lease of life with FARFETCH Second Life, our handbag resale service. READ MORE: JD.com revenues jump 24% as it extends partnership with Farfetchįirst, they will have to send information and pictures of their handbags, which will then be reviewed by staff, who will then suggest a price for the bag within 48 hours. The pilot is being led by vintage accessory and apparel curator Upteam, which has received “mentorship, knowledge, networking opportunities and early-stage funding” through Farfetch’s incubator programme Dream Assembly.Ĭustomer will now be able to sell their preloved handbags through Farfetch’s sister site. PORTO Our Porto office is located in Portugals vibrant second city, known for its history and its creative yet cosy environment. Here at FARFETCH, we want to ensure we are working towards a circular fashion economy, helping to close the loop on waste. Whether its churning gigabytes of ecommerce data, using AI to recommend the latest trends, or understanding our customers better than anyone else, we use data to promote FARFETCHs growth. Second Life enables you to earn credit, free up space in your closet and help prolong the life of your accessories. We’re thrilled to scale this model globally and are looking forward to expanding the categories consumers can give a second life to. Its new pilot Second Life will allow its customers to trade second-hand designer handbags in exchange for credits which can be used to make purchases on Farfetch. Clear space in your wardrobe and earn FARFETCH credit by selling your designer bags through our Second Life service. Shopping sustainably has become much easier, thanks to the launch of the Second Life service here on FARFETCH. Enabling services, like FARFETCH Second Life, that make it easy for consumers to do this, also offers an attractive opportunity to engage luxury consumers to shop with FARFETCH. Online luxury fashion retailer Farfetch is set to launch a new resale platform, aiming to capitalise on the increasingly lucrative pre-owned luxury market. ![]()
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