London-based luxury fashion retail platform Farfetch has posted a 10.7 per cent growth in its Q2 revenue to clock £ 490.8 million.
The growth was driven by a 60.3 per cent increase in brand platform revenue to £ 98.8 million and a 52 per cent increase in in-store revenue.
Notably, there was also an increase of 0.7 per cent in digital platform revenue.
While the gross profit rose by 16.3 per cent, during the quarter, to £ 226.8 million, the adjusted EBITDA fell by £ 20.5 million year-on-year (Y-o-Y).
Digital platform gross merchandise value slumped by 3.3 per cent Y-o-Y to £ 748 million.
Last week, Swiss luxury goods group Richemont had confirmed that it is selling its stake in Yoox Net-A-Porter (YNAP) to Farfetch.
Also Read: Swiss luxury group Richemont to sell YNAP stake to Farfetch
Farfetch was founded in 2007 and is a British-Portuguese online luxury fashion retail platform that sells products from more than 700 boutiques and brands worldwide. It is majorly known for its clothes and shoes.
