Announcing the new partnership in a statement, Burberry said its entire inventory will be made available via Farfetch with the specific aim of strengthening its e-commerce presence and appealing to young, tech-savvy, consumers.
“The partnership will see Burberry working closely with Farfetch on how the brand is presented on the Farfetch marketplace, ensuring the images and narrative provide a consistent and curated digital experience,” the statement read.
London-based Farfetch, which was founded by Portuguese entrepreneur José Neves in 2007, offers a platform for more than 700 boutiques and brands, although it does not hold any inventory itself.
Under the terms of the deal, Farfetch will offer an immediate around-the-clock London delivery service for 24 hours after Burberry’s February 2018 show, which was due to take place on Saturday.
Burberry is also releasing a “capsule collection” of items from its archive that will be re-released as part of its February 2018 runway collection and be available for purchase immediately after the show.
“Burberry has led the way in digital and this is a natural and significant evolution for us as we seek to reach a young fashion-conscious consumer,” said Daniel Heaf, SVP Digital Commerce & Digital Marketing at Burberry.
“We want the digital expression of our brand to represent the very best in brand and product storytelling whether on our own platforms or through our partners, and Farfetch customers globally can now access the full Burberry offer,” he added.
According to the Financial Times, analysts at RBC Capital Markets have estimated that nearly 10% of total global luxury sales are now generated online – and this is expected to grow to 20% by 2025.
Sourced from Burberry, Financial Times; additional content by WARC staff