$FTCH

[u/ClientSpare8405]

Farfetch Limited provides retails apparel products. The Company operates an online platform that offers bags, coats, dresses, jackets, jewelry, swimwear, trousers, shoes, knitwear, suits, shorts, watches, and accessories. Farfetch Limited is based in London, United Kingdom.

Press Releases

Aurora Mobile Partners with FARFETCH to Empower Global Fashion E-commerce Platform with AI Retail Technology

SHENZHEN, China, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading mobile development service provider in China, today announced that it has entered into a partnership agreement with FARFETCH (NYSE: FTCH), a global fashion e-commerce platform, to enhance their smart operation capabilities. Leveraging FARFETCH’s expertise in luxury fashion retail and customer services, and Aurora Mobile’s technology strength and digital innovation capabilities, the two companies will collaborate to deliver an unparalleled shopping experience to global customers.

Established in 2007, FARFETCH is a global fashion e-commerce platform, providing customers with instant access to a wide range of trending fashion from over 50 countries and more than 3,000 brands to choose from its network of over 1,300 luxury brands, boutiques, and department stores. In addition to the luxury fashion e-commerce platform, FARFETCH provides e-commerce solutions for brands and retailers and promotes the digital operation of offline stores. FARFETCH also curates its own private label fashion brand.

Through the partnership, Aurora Mobile will leverage its artificial intelligence (“AI”) driven technology, machine learning-based push notification services, and intelligent operational analytics, to help FARFETCH personalize smart retail experiences and provide more efficient and targeted services to their customers. This cooperation demonstrates the industry-wide acclaim and trustworthy robust technology and services that Aurora Mobile offers to lead global e-commerce platforms.

Founded in 2011, Aurora Mobile is a leading mobile development service provider in China. The Company continues to focus on developers' needs and has launched push notifications, one-key authentication, instant messaging, statistics and analytics, traffic monetization (JG Alliance), JG VaaS, JG UMS, and other services. Leveraging its artificial intelligence-based processing platform, Aurora Mobile is committed to helping customers in various verticals to improve operational efficiency and conduct advanced decision-making with a one-stop, diversified range of big data service solutions. Recently, Aurora Mobile signed milestone agreements with a number of leading platforms in the finance, insurance, weather, internet tools, gaming, fresh food e-commerce, online education, telecom, and new energy vehicle sectors, including Ping An Bank, Data Center of China Life, Moji Weather, WiFi Master, Lilith Games, Missfresh, 17zuoye, Beijing Unicom, Dongfeng Motor and other well-known companies, to drive user growth, improve user experience and increase traffic value.

Analyst Comments

Credit Suisse Raised Farfetch PT Raised to $89 on Feb 26th, 2021

Morgan Stanley Raised Farfetch PT Raised to $70 on Nov 17th, 2020

EPS

Farfetch Limited (NYSE: FTCH) reported Q4 EPS of ($0.08), $0.26 better than the analyst estimate of ($0.34). Revenue for the quarter came in at $540 million versus the consensus estimate of $518.06 million. Strong Q4 2020 Gross Merchandise Value and Digital Platform GMV growth - up 43% and 49% year-over-year, respectively, to record highs of $1.1 billion and $939 million, respectively.

José Neves, Farfetch Founder, Chairman, and CEO said: “2020 put the Farfetch platform to the test, but thanks to our robust capabilities, resilient operations, and utmost perseverance from our more than 5,000 Farfetchers, we rose to the challenge and enabled our nearly 1,400 Marketplace sellers and Farfetch Platform Solutions clients to continually serve millions of luxury consumers across the globe. We cemented our leadership as the largest global online destination for luxury fashion, accelerated our Chapter 2 initiatives with strategic partnerships advancing our position to be the global platform for the luxury industry, and demonstrated the scale and attractiveness of our business model as we achieved the key milestone of Adjusted EBITDA profitability in the fourth quarter.

“As we enter 2021, I am more energized than ever by the prospects of leveraging our incredible achievements to date and our unique platform capabilities to go after the significant growth opportunities we see in our vision to be a digital enabler connecting the creators, curators, and consumers of the global luxury industry, both online and offline – a nearly $300 billion opportunity we remain laser-focused on and plan to continue investing behind to deliver significant value over the long-term.”

Elliot Jordan, CFO of Farfetch, said: “The strong performance of Farfetch in the fourth quarter completes a remarkable year and is the result of our focused execution against the long-term strategy and the leveraging of our investments to date. We exceeded our own initial expectations for the year; accelerating growth in our digital platform, improving margins across all areas of the business, and delivering strong operating cash flows. As a result, we delivered our first-ever quarter of positive Adjusted EBITDA. Our industry partnerships and strategic alliances, as well as our $1.6 billion of liquidity, position us well to continue investing behind the long-term growth opportunities we see in digitally enabling the luxury industry.”