Farfetch will focus on growing its menswear business from this autumn, as well as rolling out its international expansion plans and same-day delivery options.
Menswear makes up 30% of the independent etail platform’s business, but founder José Neves believes it has the potential to be significantly more.
“We have a unique menswear proposition with fantastic boutiques and brands and we will look to grow this from the third quarter,” he said.
It follows a £56m investment led by Russian entrepreneur Yuri Milner’s DST Global firm in March. At the time Farfetch revealed it would step up its growth plans with site launches in German, Korean and Spanish, as well as seeking new boutique partners in Japan and Australia.
Neves said he would consider a potential float, but it would be a few years down the line: “We won’t be doing an IPO just yet. That is the next milestone for the business, but it will take a few years.”
Read our interview with Farfetch chief executive José Neves.