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UK's Farfetch forecasts $4.9 bn group GMV in FY23

23 May '23
1 min read
Pic: TMP - An Instant of Time / Shutterstock.com
Pic: TMP - An Instant of Time / Shutterstock.com

Insights

  • UK-based luxury fashion platform Farfetch expects group gross merchandise volume (GMV) of approximately $4.9 billion in fiscal 2023.
  • Digital platform GMV is projected to reach approximately $4.2 billion, while the brand platform GMV is expected to reach $0.6 billion in FY23.
  • The company's adjusted EBITDA margin is anticipated at 1-3 per cent.
UK-based retailer Farfetch has released its expectations for the fiscal 2023 (FY23). The company projects a group gross merchandise volume (GMV) of approximately $4.9 billion. Digital platform GMV is expected to reach approximately $4.2 billion in FY23.

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.

ALCHEMPro News Desk (DP)

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