- Vivian Hendriksz |
The industry was abuzz on Tuesday with news of Farfetch's recent partnership with Condé Nast, which saw the luxury retailer take over Style.com, as the move highlighted speculation that Farfetch was heading towards an IPO.
The acquisition, which sees Farfetch working together with Condé Nast, is said to have included Style.com trademark, inventory, customer database and intellectual property. Style.com discontinued operations yesterday morning and it site automatically redirects visitors to Farfetch.com. The partnership is the latest step taken by Farfetch to strengthen its market position, as the London-based company previously welcomed Natalie Massenet as its co-chairman and unveiled it's much awaited 'Store of the Future'earlier this year.
However, even though Farfetch's founder and CEO, José Neves, has mentioned a public listing as the next logical step for the company to take, industry sources indicate the luxury retailer is not headed for one anytime soon. "An IPO is completely speculative right now. It’s just bankers talking. It’s not happening," said one source to WWD. Instead, the company is focusing on solidifying its newest partnership with Condé Nast, as the deal offers another valuable revenue stream into Farfetch.