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Furthermore, Farfetch anticipates a brand platform GMV of approximately $0.6 billion, the company said in its financial results for the first quarter of FY23 ending March 31, 2023.
Farfetch expects an adjusted EBITDA margin ranging from 1-3 per cent.
“We continue to focus on our medium- and longer-term goals, including our mission to be the leading global platform for the more than $360 billion luxury industry. We believe we are uniquely positioned to go after this opportunity, and have demonstrated a track record of strong growth over the years, having grown GMV three times as fast as the industry between 2019 and 2022. I am extremely confident in our ability to continue expanding our reach across this resilient luxury industry, and in our prospects of delivering sustained profitability and free cash flow over the coming years,” said Jose Neves, Farfetch founder, chairman, and CEO.
Fibre2Fashion News Desk (DP)