Farfetch signs partnership with Harvey Nichols as £4bn IPO plans move forward

Alys Key
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Harvey Nichols will launch on Farfetch this year (Source: Getty)

Luxury ecommerce company Farfetch has signed up for yet another partnership as it charges towards an IPO.

Harvey Nichols will become the first department store to be represented on the platform, after the two companies teamed in a move hailed as a "strategic milestone".

It is the latest in a string of partnerships which Farfetch has announced this year. Most recently, Chanel took a stake in the business and pledged to work together on retail initiatives. This came just days after British label Burberry also partnered with the platform.

Speculation that Farfetch will launch a public offering in the US has been growing this year. Over the weekend, the Financial Times reported that the company has now appointed bankers from JPMorgan and Goldman Sachs to lead a float worth an estimated £4bn.

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Natalie Massenet, co-chair of Farfetch's board, said that the Harvey Nichols tie-up was "a strategic milestone for both companies, as well as a win for their customers globally".

She added: "Farfetch is proving it is truly the technology platform for the whole luxury fashion industry – from gorgeous boutiques with incredible curation, to the world’s most loved designers and luxury brands and now, department stores like Harvey Nichols who for almost 200 years have built a devoted following and are innovating for the future and for their customers’ changing needs.”

Massenet founded Farfetch rival Net-a-Porter, but left the company after its merger with Yoox. The enlarged firm, known as YNAP, is set to leave the stock market in a sale to luxury giant Richemont, despite the concerns of some shareholders.

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