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However, what sets Farfetch apart is the fact that it is the only marketplace to showcase a clothing assortment share of less than 50% (44% of the Farfetch assortment is geared towards clothing). In the luxury marketplace sector, the apparel market takes charge, as most marketplaces direct a significant 50% or more of their assortment towards the clothing category. Net a Porter on the other hand, does not have a menswear collection on its platform, with a dedicated website, Mr.Porter which solely caters to the male luxury shopper, thus separating consumers between two different platforms. The online marketplace includes a large 41% share of menswear in its assortment, where in comparison, competitors like MyTheresa have a relatively low percentage of menswear collections. Let’s dive deeper into Farfetch's strategy to find out how the platform rises above the competition.įarfetch differs from its competitors within its gender mix, with a nearly equal split between men’s and women’s collections on the luxury platform, potentially contributing to its leader status. Farfetch is thriving and increasingly so through its deal with Chinese giant, Alibaba Group and Swiss luxury group Richemont, bolstering the online marketplace into the Chinese market through “Farfetch China”, as well as its pre-owned assortment, falling in line with the prominence of the resale market. Where competitors struggled to keep up with the consequences of the pandemic, Farfetch came out on top and as the online marketplace’s e-concession model implies that it does not hold inventory, it remains operational despite lockdowns, and allows brands to directly sell through the Farfetch platform and retain control of product selection and pricing. The luxury platform experienced its biggest boost during the COVID-19 pandemic, as luxury retail suffered less than other retail sectors. Farfetch leads the pack, with a gross merchandise value of over $1 billion in the second quarter of 2021, 40% higher than in 2020, during the same time period and more than double the 2019 value. A sector once dominated by one website has expanded, and the digital luxury marketplace sector is led by Farfetch today, the UK based platform that has become the one to beat.