FARFETCH TO ADD WEEKLY ‘DROP’ BUSINESS MODEL

Farfetch is launching a drop strategy which leverages its community of curators and creators to bring unique product to the online retailer’s consumers globally in a new way.

Farfetch’s top international brand partners, along with New Guards Group brands including Ambush, Opening Ceremony, Off-White, Heron Preston and more will create limited-run pieces, capsules, and exclusive product, while Stadium Goods will surface cult streetwear and sneaker rarities.

Called ‘Farfetch BEAT,’ the program will also include collaborations with some of the world’s best boutiques to give its global customer base of fashion lovers access to site-exclusive pieces.

‘Farfetch BEAT’ will be available on the retailer’s app to registered customers and will land weekly every Wednesday. Over time, some drops will be available through Farfetch’s boutique network. The strategy forms a part of the company’s overall brand positioning, ‘Only On Farfetch’, which highlights its ability to give luxury customers access to products, brands, services and a community of the best curators in the world through its boutique network.

Other ways the company communicates its brand strategy is through ‘Farfetch Communities’, its showcase of community-driven content; its new-in strategy which features many exclusive capsules and collections; and its unique services, such as same-day delivery in multiple major cities and Positively Farfetch initiatives such as Thrift+,  an on-demand charitable donation service, and Second Life, a handbag resale service.

“Our global luxury customers want access to the most relevant and most coveted fashion in the world,” said Stephanie Phair, chief customer officer at Farfetch. “Farfetch is uniquely positioned to deliver on both our customer needs and the changing industry landscape. Leveraging our community of the world’s best brands, the most exceptional and beautiful boutiques and curators and now, our brand platform in New Guards Group, we can deliver the most sought-after product in the world for our customers, and surface regionally relevant trends to a global audience. At the same time, for our industry partners, we can execute seamlessly on a global drop strategy across all markets including China, Japan, Russia, Brazil, the Middle East and North America, both on-and offline, allowing them to reach an unrivalled audience of engaged and high-intent luxury customers.”

Holli Rogers, chief brand officer at Farfetch, added: “We’ll be creating and dropping fashion that is rare, limited run, highly covetable, collectible and that lovers of fashion just won’t be able to wait to get their hands on. The Farfetch BEAT Collective will be working with our fantastic network of brands, creative directors and industry leaders, celebrating the products that can only be found on Farfetch.”

‘Farfetch BEAT’ will launch in April.