Given the acquisition trail Farfetch has been on recently, it might seem like a no-brainer that the company would be interested in buying US-based Barneys. But it seems that it's not, despite a story to the contrary.
Mulberry said on Friday that it has taken full control of its business in South Korea with the acquisition of a minority interest in Mulberry (Korea) Co, a joint venture company that was set up only last year.
Middle Eastern tourists are expected to boost UK luxury retail this summer with a particular interest in British brands. That’s according to Global Blue, which predicted a 16% rise in transactions by Gulf visitors.
It was a mixed (luxury) bag of results for Mulberry in the 53 weeks to the end of March with the UK company saying its international business developed, its D2C strategy progressed, but the UK market was challenging.
Farfetch is still loss-making as it invests in growth and that growth is certainly explosive at present with revenue surging as it adds brands and customers, and launches new developments at a frenetic pace.
UK luxury brand Mulberry has just announced a new global partnership with Farfetch to support its international omnichannel strategy with the new Mulberry 'concession' to offer the full product line-up.