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News August 9, 2019
By Snobette
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News

Farfetch Stock Plunges On Disappointing Results, Announces Purchase Of New Guards Group

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August 9, 2019. Leave a Comment

London-based Farfetch retailer got roughed up on the stock market yesterday (August 8, 2019) with its stock price dropping as much as 41 percent in response to disappointing second-quarter earnings results.

Investors also balked at the news the company had spent $675 million to purchase Milanese company New Guards Group, a holding company that produces Off-White, Heron Preston, Kirin and Palm Angels among others. NGG has been on a growth tear posting revenue of $345 million for for the 12 months ending April 30, 2019 with profits of $95 million before tax during the same period.

Adding to the negatives, investors were put off by news the company’s COO, Andrew Robb, is stepping down after nine years with the company.

Dismissing the disappointing results, company CEO and founder José Neves breezily stated, “Farfetch continued to deliver market-leading growth in second quarter 2019, with Platform GMV expanding 44-percent to a record $484 million, or approximately 49-percent growth on a constant currency basis. Our unmatched proposition for luxury consumers drove growth beyond not only our expectations, but also the growth of the online personal luxury goods industry, as we continued to gain market share.”

Founded in 2007, Farfetch is an online retail platform that sells products from more than 700 boutiques and brands globally. The company listed on the New York Stock Exchange under the ticker FTCH in September 2018. In December 2018, Farfetch acquired online sneaker platform, Stadium Goods, for $250 million.

News Retail Farfetch Heron Preston Kirin Off-White

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Mitchell & Ness is getting cooked on the styling f Mitchell & Ness is getting cooked on the styling for its newly launched NBA dresses. Someone said they gentrified the jersey dress. Do you see a problem here?
Today Harley-Davidson drops its first foray into f Today Harley-Davidson drops its first foray into fashion with #HDCollections an assortment of unisex lines ranging from rare vintage pieces, to cozy classics like hoodies and sweatpants to luxe leather pants and jackets.

Designed in New York under the creative direction of newly appointed Central Saint Martins alum, Louise Goldin, the collection of lines aims to tap into the ever hot moto trend. 

Available on hdcollections.com.

Thoughts?

#motostyle #harleydavidson
Marc Jacobs pretty much owned a good portion of th Marc Jacobs pretty much owned a good portion of the 2000's when it came to accessories, mostly handbags. 
(See our stories for throwbacks)

This year he relaunches the 'Stam' bag named after  model Jessica Stam. The campaign shot by Harley Weir, styled by Alistair McKimm highlights the dolls of that era: Ashanti, Paris Hilton, Selma Blair and Ashlee Simpson!

Did you own a Marc Jacobs or Marc by Marc bag?
#Snobette#internationalwomensday mood cause here i #Snobette#internationalwomensday mood cause here its women's day 365 days a year!

Cheers to us🥂

Walk by queen Omahyra Mota for Harris Reed debut as Nina Ricci's creative director.
For all the awareness that many have tried to crea For all the awareness that many have tried to create in high fashion about diversity, most large houses like #Prada and #MiuMiu now cast a few Asian and Black models. The commitment to skinny bodies only tho is unwavering!

Shout out to cutie #ZayaWade  who made her runway debut at Miu Miu’s fall '23 runway show!
Jerry Lorenzo unveiled his Essentials by Fear of G Jerry Lorenzo unveiled his Essentials by Fear of God spring '23 collection. Styled by Veneda Carter who took inspiration from dancers in styling, the assortment includes the introduction of corduroy as a new material and as always a beautiful color palette.

Do you have a favorite Essentials piece? 

Now on fearofgod.com
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