How FARFETCH Platform Solutions Powers Next-Gen Tech for the Luxury Industry
You’ve heard of farfetch.com - the world’s leading global luxury marketplace. But did you know there’s another team within FARFETCH reshaping luxury digital commerce? Meet FARFETCH Platform Solutions (FPS).
True luxury pushes the boundaries of what's possible. Since the inception of the earliest couture houses, luxury brands have existed as bastions of creativity and innovation.
To keep up with the 73% of consumers who shop across multiple channels, luxury brands are reprioritizing their growth strategies - trading new store openings for best-in-class technology solutions.
In the past, exceptional in-store experiences were enough to engage customers. However, with more channels to connect with luxury retailers than ever, consumers expect their favorite brands to be accessible anytime and anywhere.
But luxury retailers aren't technology companies.
They're experts in designing, producing, and selling exclusive, high-end goods and services - and we love them for it. To achieve long-term success, however, bridging this digital gap is essential.
That's where FARFETCH Platform Solutions (FPS) comes in.
As the only technology platform built for the luxury industry, our technology, and unparalleled expertise enable industry leaders like Harrods and Off-White to bring their visions for the next generation of luxury experiences to life.
While most luxury brands and retailers have visions for the future of their retail offerings, they lack the technical expertise to actualize their goals.
As both a luxury native and technology-driven business, FPS was built at the intersection of luxury and technology to bring these goals to life. Eight years post-launch, we're still innovating at this crossroads and delivering solutions that scale luxury brands and retailers into the digital realm.
Put simply, FPS delivers a collection of digital commerce solutions tailored exclusively to luxury retail.
Blending scalable technology solutions with unparalleled expertise, our solutions solve key retailer and brand pain points, including:
- Unlocking global growth to expand into new markets, create engagement opportunities, and increase digital revenue potential
- Elevating consumer experiences to enrich and connect luxury experiences across online and offline touchpoints
- Optimizing and streamlining infrastructure to develop more intuitive end-to-end commerce management through a single partner
- Advancing digital strategy to create luxury experiences that meet customer’s current and future needs
- Innovating further and faster to solve the problems you’ll face in five years' time
Every business is different, and our products are flexible to address their unique needs.
These modular solutions include:
- End-to-end commerce replatform: Transform your digital infrastructure with our comprehensive commerce ecosystem. Developed for digital-first strategies, you can reimagine your online and in-store experiences.
- E-Concessions: This packaged suite of solutions reduces costs and operational effort by seamlessly connecting retailers with products from leading luxury brands, without having to invest in inventory. For brands, E-concessions activates new channels for commerce while enabling internal teams to maintain full control of the customer journey, product information, and pricing.
- Connected Retail: A bespoke collection of retail technology curated to deliver connected experiences, both in-store and online. From dedicated sales assistant apps to in-store connected mirrors and displays, our Connected Retail suite allows you to connect with customers at every stage of their purchase journey and deliver seamless, personalized customer experiences.
- Global Logistics: Unique end-to-end logistics solutions that power international growth. Our global logistics enable luxury brands and retailers to deliver localized luxury experiences worldwide, from checkout and order processing to shipping and returns.
- Ecosystem Integrations: Our platform ecosystem includes third-party solutions designed and developed with the same laser focus on the luxury industry as our own. From AI size and fit plug-ins to resale-specific technology, our ecosystem integrations provide access to a broader variety of cutting-edge retail technology.
Most importantly, FPS seamlessly integrates with your business to become a part of your internal team. Our in-house experts work closely with retail and brand partners to share industry insight, provide feedback, and create tailor-made solutions to tackle their unique challenges together.
While it may be difficult to imagine a life before online shopping, eCommerce is still in its infancy. Today, one in every five retail purchases is made online, and with new platforms for commerce arising daily, the industry is growing at record speed.
When we launched FPS in 2015, we set out to enable luxury brands' expansion into digital commerce. Since then, our best-in-class technological toolkit and expert team have helped dozens of brands and retailers pave the future of luxury retail.
Moving forward, we've maintained our focus on bringing the latest technological innovations to our partners around the globe. As luxury customers look to retailers to not only set trends but lead the way for technological innovation, we’re delivering the best-in-class super apps, VR tools, AI integrations, and more that brands need to pave the future of luxury.
Interested in learning more about how FPS can help you reimagine your retail experiences? Contact us here.
EXPERIENCE THE FUTURE OF LUXURY NEW RETAIL
Partner with luxury commerce experts to increase customer loyalty, engagement and expand your territories.