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CC-Transcript

  • 00:00THE IPO PLANS, WHAT ARE YOUR HOPES FOR THE IPO? > > WE DO NOT HAVE ANY PLANS. FRANCINE: NO PLAN? NO TIMING? NOT TALKING TO ANYBODY? NOT GETTING ANY ADVICE? > > WE DO NOT COMMENT ON RUMORS. FRANCINE: OK, WHAT ARE YOU EXPECTING TO GET FROM THAT. WHAT ARE YOUR EXPECTATIONS ABOUT WHAT IT CAN DELIVER TO YOUR BUSINESS? > > IT IS ONE OF THE LARGEST LUXURY GOOD MARKETS IN THE WORLD . IT IS VERY DIGITALLY SAVVY WITH POPULATIONS, DEMOGRAPHICS. THEY ARE AMAZING AS WELL. IT HAS A LOT OF THE HIGHEST CONCENTRATIONS OF SMARTPHONES, OVER 100% INFILTRATION. YES, ONLINE LUXURY SALES ARE BELWOW 5%. SO, THE MARKET IS REALLY, REALLY ANGRY AND WATCHING A SWITCH. SO, WHAT WE SAW WAS AN OPPORTUNITY TO PARTNER WITH THE BEST LUXURY LABELS. SOME OF THEM HAVE OVER 10 RETAIL SOTRES ACROSS THE WHOLE REGION. SO, THEY REALLY KNOW THE CUSTOMER. THEY KNOW HOW LUXURY RETAIL OPERATES THERE. AND WE ARE MARRYING DIGITAL AND LUXURY RETAIL TOGETHER. FRANCINE: SO, YOU BRING THE DIGITAL AND THEY BRING THE LUXURY EXPERIENCE. DOES MONEY CHANGED HANDS IN THAT SITUATION? WHAT ARE THE TERMS. JOSE: WE ARE NOT DISCLOSING THE TERMS. WE ARE VERY FOCUSED ON THE VALUE FOR THE CUSTOMERS. FRANCINE: ANOTHER PARTNERSHIP YOU HAVE IN PLACE IS JD.COM, OVER IN CHINA. HOW IS THAT GOING FOR YOU? JOSE: IT ' S GOING GREAT. CHINA HAS A VERY FAST-GROWING GEOGRAPHY FOR US. THAT WAS THE CASE FOR JD. IT IS ACCELERATING WITH THE JD.COM BATTLESHIP. WE SIGNED IN JULY WITH EIGHT PROGRAMS FOR TECHNICAL INTEGRATION. FRANCINE: WHAT ARE THE PRIORITIES FOR THE BUSINESS? DOES THE MIDDLE EAST HAVE DEMOGRAPHICS THAT YOU LIKE? WE CHINESE MARKET HAS SCALE THAT YOU NO DOUBT LIKE. WHICH EXCITING MORE? JOSE: WE SEE A HUGE OPPORTUNITY IN THE ASIA-PACIFIC, AND ALSO EMERGING MARKETS. WE ARE ONE OF THE FEW PLAYERS THAT PRACTICE IN ALL ENTRIES AS MARKETS IN THE WORLD. WE HAVE 12 LANGUAGES AND 12 OFFICES. WE ARE IN AMERICA, RUSSIA, NOW THE MIDDLE EAST AND CHINA, ASIA AND JAPAN WE ARE LOOKING INTO LUXURY AND E-COMMERCE IN THESE REGIONS. THEY ARE VERY EUROPEAN COUNTRIES. THESE COMPANIES, IT ' S HARD FOR THESE COMPANIES TO E-COMMERCE IN SOME OF THESE TERRITORIES. FRANCINE: SO, THEY RELY ON FARFETCH TO DO THIS. HOW MUCH DO YOU RELY ON LOGISTICS? BECAUSE YOU MENTIONED THE LINKAGES AND AREAS YOU SERVE. WHAT ABOUT WAREHOUSES? JOSE: SOI=,, WE SUBCONTRACT. WE ALSO WORK WITH LOCAL PARTNERS. THEY OWN THEIR OWN LOGISTICS. YOU ARE FOR THE LAST TRIAL THAT IS SIMPLY HOW WE OPERATE. FRANCINE: YOU HAVE A BIG FOCUS ON DIGITAL. WHY THEN AM I READING ABOUT YOUR PLAN TO ROLL OUT NEW DEBT TECHNOLOGICAL SHOPPING IN STORES? JOESSE: WELL, I LIKE MUSIC AND TELEVISION AND MEDIA. IT CANNOT BE COMPLETELY DIGITIZED. THAT HUMAN CONNECTION IS IMPORTANT. IT IS HERE TO STAY. IT IS STILL MONDAY PERCENT OF LUXURY SALES. -- IT IS STILL 90% OF LUXURY SALES. THERE IS A NEED FOR A MUCH MORE PERSONALIZE EXPERIENCED, WHICH TODAY TECHNOLOGY ALLOWS US TO DO. FRANCINE: YOU WANT TO DRAG THEM
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Farfetch CEO Neves Says There Are No Plans for an IPO

  • Bloomberg Surveillance

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February 13th, 2018, 10:57 AM GMT+0000

Jose Neves, chief executive officer and founder at Farfetch, discusses the possibility of an IPO for the luxury goods maker, expansion in the Middle East and China, and the need for a mix of brick-and-mortar sales with e-commerce. He speaks with Bloomberg's Anna Edwards on "Bloomberg Surveillance." (Source: Bloomberg)


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