Latest news with #StephenEggleston
Fibre2Fashion
21 hours ago
- Business
- Fibre2Fashion
UK's Farfetch launches luxury offering on Coupang's R.LUX platform
FARFETCH, the leading global marketplace for luxury, announced the launch of its extensive selection of luxury on the app, Coupang's luxury vertical service in South Korea. Brand and boutique partners will gain immediate access to millions of already-engaged customers. This integration empowers Farfetch partners, the world's top brands and boutiques, to tap deeper into the South Korean luxury market, a significant and promising market consistently ranked among the top 10 globally. Stephen Eggleston, Chief Commercial Officer at FARFETCH , stated: 'We are thrilled to offer our partners – both brands and boutiques – a tremendous opportunity. This unique gateway will significantly expand their access to the high-spending South Korean luxury market. Together, we will continue to offer the widest selection of products, including unique items customers can't find anywhere else.' Farfetch has launched on Coupang's app, expanding its reach in South Korea's top 10 global luxury market. The move gives partner brands and boutiques immediate access to millions of local consumers. Categories include womenswear, menswear, shoes, bags, watches, and fine jewellery from global labels like Dolce&Gabbana and Ferragamo, plus emerging designers. At launch, an extensive selection of categories will be available, including womenswear, menswear, shoes, bags and watches and fine jewellery, from the world's top brands such as DOLCE&GABBANA and FERRAGAMO and also emergent designers, offering endless expressions of style to millions of new customers. A representative of MISSONI, the Italian luxury fashion house, said: 'We are excited about the continued evolution of our partnership with FARFETCH, and this is another step forward. We view this latest development as an incredible opportunity to make our products immediately available to millions of avid and already engaged customers.' FARFETCH will leverage the robust local operational network to deliver a 'wow experience' to customers, including free shipping and a faster delivery service. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (RM)
Fashion United
2 days ago
- Business
- Fashion United
Farfetch teams up with Coupang's R.Lux to increase reach in South Korea
Farfetch has unveiled a new partnership with an app also owned by the luxury e-tailer's parent company Coupang. Through the collaboration, Farfetch intends to deepen its reach within South Korea's luxury market and allow its own partners to gain 'immediate access to millions of already-engaged customers'. described as Coupang's luxury vertical service, will now offer a selection of luxury products and categories, spanning womenswear, menswear, shoes, bags, watches and fine jewellery. Brands will range from established names, like Dolce&Gabbana, to emerging designers. Farfetch said that through the partnership, it will leverage the local operational network of and as a result provide free shipping and faster delivery to South Korean customers. In a release, Stephen Eggleston, chief commercial officer at Farfetch, said: 'We are thrilled to offer our partners – both brands and boutiques – a tremendous opportunity. This unique gateway will significantly expand their access to the high-spending South Korean luxury market. Together, we will continue to offer the widest selection of products, including unique items customers can't find anywhere else.' Following its acquisition of the British e-commerce site in early 2024, Coupang said Farfetch would take a backseat while it pursued a larger market share of its home country South Korea and Taiwan. In the meantime, Farfetch has enacted a renewed focus on its core marketplace business, which has seen the shuttering of its Platform Solutions service and the bankruptcy of its Italian subsidiary, New Guards Group.
Fashion Network
3 days ago
- Business
- Fashion Network
Coupang takes Farfetch to S. Korea in link-up with its R.Lux unit
Farfetch will leverage local experience in a partnership that means millions of already engaged customers will gain immediate access to the global luxury e-tailer's extensive selection. At launch, an extensive selection of categories will be available, including womenswear, menswear, shoes, bags, watches and fine jewellery, from the world's top brands such as Dolce & Gabbana, Missoni and Ferragamo, as well as emerging designers. Users can tap the Fashion tab in the app with products ordered being delivered within four to seven days. Delivery is free and shoppers signed up to Coupang's WOW rewards programme will get exclusive benefits such as free returns. Also important is that handles the tricky issues such as direct purchases of luxury goods requiring customers to report and pay tariffs and VAT. It means the price quoted includes all taxes and refunds reflect the full price too. Farfetch said that this integration 'empowers' its partners, 'the world's top brands and boutiques, to tap deeper into the South Korean luxury market, a significant and promising market consistently ranked among the top 10 globally. Stephen Eggleston, Chief Commercial Officer at Farfetch, added: 'We are thrilled to offer our partners – both brands and boutiques – a tremendous opportunity. This unique gateway will significantly expand their access to the high-spending South Korean luxury market. Together, we will continue to offer the widest selection of products, including unique items customers can't find anywhere else.' And an spokesperson said the Farfetch deal allows it to offer a massively expanded choice to customers while the company is planning to further expand selections across various categories in the future.
Fashion Network
3 days ago
- Business
- Fashion Network
Coupang takes Farfetch to S. Korea in link-up with its R.Lux unit
Farfetch will leverage local experience in a partnership that means millions of already engaged customers will gain immediate access to the global luxury e-tailer's extensive selection. At launch, an extensive selection of categories will be available, including womenswear, menswear, shoes, bags, watches and fine jewellery, from the world's top brands such as Dolce & Gabbana, Missoni and Ferragamo, as well as emerging designers. Users can tap the Fashion tab in the app with products ordered being delivered within four to seven days. Delivery is free and shoppers signed up to Coupang's WOW rewards programme will get exclusive benefits such as free returns. Also important is that handles the tricky issues such as direct purchases of luxury goods requiring customers to report and pay tariffs and VAT. It means the price quoted includes all taxes and refunds reflect the full price too. Farfetch said that this integration 'empowers' its partners, 'the world's top brands and boutiques, to tap deeper into the South Korean luxury market, a significant and promising market consistently ranked among the top 10 globally. Stephen Eggleston, Chief Commercial Officer at Farfetch, added: 'We are thrilled to offer our partners – both brands and boutiques – a tremendous opportunity. This unique gateway will significantly expand their access to the high-spending South Korean luxury market. Together, we will continue to offer the widest selection of products, including unique items customers can't find anywhere else.' And an spokesperson said the Farfetch deal allows it to offer a massively expanded choice to customers while the company is planning to further expand selections across various categories in the future.
Yahoo
4 days ago
- Business
- Yahoo
Farfetch Pushes Into South Korea, One of the World's Biggest Luxury Markets
— Farfetch is pushing 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 is looking to leverage the local services and operational network in the region, where its business is still small. More from WWD Nancy Astor's Cartier Tiara Outstrips Expectations at Bonhams Auction Casablanca's First Store in Paris Has a Marble Tennis Court and Ancient Greek Flair Kate Moss' and Bobby Gillespie's Zara Capsule Is All Rock 'n' Roll The integration of the two Coupang-owned companies means that Farfetch's brand and boutique partners will gain immediate access to millions of customers in South Korea, one of the top 10 luxury markets globally. The plan is to offer enhanced services to those customers, including free shipping and returns, and fast delivery. Stephen Eggleston, chief commercial officer at Farfetch, described the integration as a 'tremendous opportunity' for brands and partners of Farfetch. 'This unique gateway will significantly expand their access to the high-spending South Korean luxury market. Together, we will continue to offer the widest selection of products, including unique items customers can't find anywhere else,' he said. At launch, an extensive selection of Farfetch merchandise will be available, including womenswear, menswear, shoes, bags and watches and fine jewelry, from brands including Dolce & Gabbana, Ferragamo and Missoni. 'We are excited about the continued evolution of our partnership with Farfetch, and this is another step forward,' said a Missoni spokesperson. 'We view this latest development as an incredible opportunity to make our products immediately available to millions of avid and already engaged customers.' There are currently 1,400 brands, boutiques and department stores on the Farfetch platform, which serves customers in more than 190 countries and territories. South Koreans are among the world's biggest spenders on luxury goods per capita, with total spending on personal luxury goods growing by 24 percent to $16.8 billion in 2022, according to Statista. McKinsey's 2025 State of Fashion Report found the exceptional growth in the sector was driven by certain geographies, including South Korea, which saw an 8 percent compound annual growth rate between 2019 and 2023. Coupang has been working to stabilize the Farfetch business, which it purchased out of administration in 2023. 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. Coupang, an e-commerce giant known for its speedy delivery services, was born in Seoul and is now based in Seattle. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns Effettua l'accesso per consultare il tuo portafoglio
