"Today Farfetch, the leading global platform for the fashion industry, and Condé Nast, the preeminent content provider, announced a strategic partnership to connect Condé Nast’s global editorial portfolio with Farfetch’s e-commerce, technology and logistics platform," read a statement from the company, adding that, "The partnership will offer readers the unique ability to browse and shop Condé Nast’s inspirational editorial content on a global scale, further commercialising the editorial portfolio."
“As an early investor in Farfetch, this partnership is the next step in our evolving business relationship," Jonathan Newhouse, chairman and chief executive of Condé Nast International and newly appointed board member of Farfetch, said this morning. "It further unites two leaders in their respective sectors, combining best-in-class content with the world’s leading online luxury shopping destination. This is an industry defining collaboration, and I am very pleased to be joining the Board of Farfetch. I would like to take this opportunity to thank the entire Style.com team for their dedication, energy and commitment.”
Style.com was acquired by Condé Nast in April 2015 and marked the company's first solo venture into e-commerce. Its initial focus was to "sell merchandise to consumers, including readers and users of its magazines and websites such as Vogue, Vanity Fair and GQ, targeting fashion brands as well as upmarket brands from other sectors such as beauty, travel services and technology", read a release at the time. Its new venture with Farfetch - founded by José Neves - which it already owns a large stake in, marks a consolidation of all its online-shopping interests.
“We have long felt that inspirational content is a natural part of any luxury shopping experience," said Neves this morning. "In the same way as we empower the fashion industry and connect consumers with the world’s best brands and boutiques, we want to connect them with outstanding content. This global partnership with Condé Nast will significantly augment the retail experience for our customers, and we see it as a natural step in Farfetch’s approach to commerce and our strategic vision to connect those who create fashion, curate fashion and develop fashion content. Farfetch’s DNA is about partnering with those who are the best in their fields, and Condé Nast is one of the world’s best content providers. I am also thrilled that Jonathan Newhouse will be joining our Board of Directors."
The announcement is the latest big development to come from Farfetch this year. In February, Natalie Massenet announced that she was joining the company as non-executive co-chairman, ending industry speculation about her next move after her exit from Net-a-Porter, which she founded in 2000, following its merger with Yoox.
“We are thrilled to be partnering with Condé Nast," said Massenet today. "Since 1999 I have believed in the importance of combining content and commerce in order to elevate the digital shopping experience. Content educates, entertains, and inspires purchases which is crucial in the customer journey of discovery. We have long admired the depth, breadth and sophistication of Condé Nast’s international reach and are excited for Farfetch to partner closely with Condé Nast.
“We have long felt that inspirational content is a natural part of any luxury shopping experience," said Neves this morning. "In the same way as we empower the fashion industry and connect consumers with the world’s best brands and boutiques, we want to connect them with outstanding content. This global partnership with Condé Nast will significantly augment the retail experience for our customers, and we see it as a natural step in Farfetch’s approach to commerce and our strategic vision to connect those who create fashion, curate fashion and develop fashion content. Farfetch’s DNA is about partnering with those who are the best in their fields, and Condé Nast is one of the world’s best content providers. I am also thrilled that Jonathan Newhouse will be joining our Board of Directors."
The announcement is the latest big development to come from Farfetch this year. In February, Natalie Massenet announced that she was joining the company as non-executive co-chairman, ending industry speculation about her next move after her exit from Net-a-Porter, which she founded in 2000, following its merger with Yoox.
“We are thrilled to be partnering with Condé Nast," said Massenet today. "Since 1999 I have believed in the importance of combining content and commerce in order to elevate the digital shopping experience. Content educates, entertains, and inspires purchases which is crucial in the customer journey of discovery. We have long admired the depth, breadth and sophistication of Condé Nast’s international reach and are excited for Farfetch to partner closely with Condé Nast.
For the consumer this will be a joy to move from inspiration to transaction at any time and any place. And for the brands and international boutiques that have always partnered with Condé Nast this will further enhance their presence in Condé Nast’s media. It will be thrilling to develop the next evolution of content and commerce with Anna Wintour and all the brilliant talented minds at Condé Nast.”
Wintour, who as well as being editor-in-chief at American Vogue is also artistic director of Condé Nast, compounded Massenet's point. “I’ve always believed that what sets Condé Nast apart is our voice and our vision. Partnering with Farfetch only enhances that, and brings a new dimension to all that we offer the world.”
Wintour, who as well as being editor-in-chief at American Vogue is also artistic director of Condé Nast, compounded Massenet's point. “I’ve always believed that what sets Condé Nast apart is our voice and our vision. Partnering with Farfetch only enhances that, and brings a new dimension to all that we offer the world.”
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