The Farfetch Crisis: What Happened & What's Next for Luxury E-Commerce?

Uncover the dramatic story of Farfetch, from its pioneering days as a luxury e-commerce marketplace to its staggering collapse. This episode explores how Farfetch, founded in 2008, aimed to connect the world’s leading luxury brands with a global audience, capitalizing on the premise that the high-end luxury market is crisis-proof. We delve into its innovative business model, which allowed boutiques and brands to reach customers worldwide without managing inventory. Discover the critical missteps and market forces that led to its downfall, including strained relationships with luxury brands, increasing marketing costs, and the impact of major brands selling independently.This episode is sponsored by cloutfit.ai, a new B2B fashion commerce company founded by the former  CPO and the CTO of major fashion ecommerce companies. Cloutfi.ai uses AI tools to help increase their client’s revenue by boosting user engagement.