Digital soul, real body: how Farfetch will change after the pandemic

Digital soul, real body: how Farfetch will change after the pandemic

Digital soul, real body. Farfetch founder, José Neves, sets the new standards for his creature. “We want to become the first global tech platform partner in fashion”, he announces to MFF. Neves (pictured) envisions a near future where the digital channel grows, and broadens customer engagement, but settles down. A landscape in which physical retail continues to prevail.

Luxury that changes (for the better)

“2020 was a very transformative year for everyone and for fashion in particular – are the words of Neves -, consumers have discovered new ways in luxury shopping. If you think, for example, of Chinese consumers, 70% of pre-Covid consumption, in 2019, was done by traveling. And obviously in the last 12 months, it was impossible for them”. And the world of luxury, according to the privileged point of view of Farfetch CEO, evolves by satisfying needs and opening new proposals in the right way. “We wanted to be catalysts for this paradigmatic shift for brands – continues the Portuguese manager -. Chanel does not sell online, but we have an exclusive collaboration with them, to digitise physical stores. Marketing and advertising are moving online. LVMH will have 50% advertising being digital in the near future”.

Digital soul, real body

According to Neves, the fashion world of tomorrow will see a strong integration between the digital and the physical channel. “I think it will probably be 35% digital and 65% physical, or maybe 40-60 at most – he explains to MfFashion -. But most of the sales will be in physical stores with a lot more technology. I always say that fashion is not downloadable. You can’t download clothes like music and movies. I believe in physical retail”. Future assured also for physical fashion shows, although they could be supplemented by digital avatars, but according to Neves to the extent of 5%.

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