The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — Burberry will team up with online retailer Farfetch to make all of its products available to internet shoppers in 150 countries, the British fashion company said on Thursday.
Luxury groups from Louis Vuitton owner LVMH to Gucci parent Kering are putting more resources into e-commerce as they court young customers, developing websites for their brands or partnering with other retailers.
Richemont, owner of jeweller Cartier, is bidding for full control of Farfetch rival Yoox Net-A-Porter.
Burberry, famed for its trench coats and trademark check in camel, red and black, was one of the earliest adopters of digital changes in the industry, experimenting with new technology in stores and embracing social media to show off its collections.
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It said the Farfetch partnership would expand its distribution around the world, making its whole inventory widely available as it targets "a young fashion-conscious consumer."
It gave no financial details.
Farfetch will provide around-the-clock deliveries of Burberry's latest collection in the 24 hours after it is presented at London Fashion Week.
Farfetch, tipped for a New York stock market listing later this year, is a platform that allows people to buy luxury clothes or accessories from more than 700 brands and boutiques. Unlike some competitors it does not carry stock.
Analysts expect online shopping to account for a quarter of all luxury goods sales by 2025, up from close to 10 percent at present, making it a major motor of growth in an industry trying to ride a recovery in demand from key Chinese consumers.
Burberry's performance has recently lagged that of many of its competitors and the UK label is in the midst of an overhaul as it looks to move more upmarket.
Farfetch will provide around-the-clock deliveries in London of Burberry's latest collection in the 24 hours after it is presented during the city's fashion week on Feb. 17, the brand said.
The catwalk show will be the last by designer Christopher Bailey, who is leaving after 17 years at Burberry. His replacement has yet to be announced.
By Sarah White; editor: David Goodman.
Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.
Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time.
Brands are using them for design tasks, in their marketing, on their e-commerce sites and in augmented-reality experiences such as virtual try-on, with more applications still emerging.
Brands including LVMH’s Fred, TAG Heuer and Prada, whose lab-grown diamond supplier Snow speaks for the first time, have all unveiled products with man-made stones as they look to technology for new creative possibilities.