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Farfetch cuts 30% staff, loses CEO


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Farfetch, the popular fashion e-commerce platform, has announced a significant reduction in its workforce, laying off 30% of its global workforce. The company reportedly had about 6,700 employees in Dec 31, 2022. This decision comes amidst a series of managerial changes, including the stepping down of its CEO, José Neves.

 

Neves, who launched Farfetch in 2008, is stepping down two months after Coupang and Greenoaks Capital purchased the e-commerce platform out of administration and pledged $500 million to help revive it. Despite his departure from the CEO role, Neves will continue to serve Farfetch in a consultancy role.

 

The shakeup at Farfetch also includes the exit of other top managers, including Elizabeth Von Der Goltz, chief fashion and merchandising officer at Farfetch and CEO at Browns, and Kelly Kowal, head of Farfetch Platform Solutions. The company spokesperson stated that these changes were necessary to secure the future of the business.

 

Coupang’s founder, Bom Kim, along with the Farfetch executive team, will oversee the business moving forward. The company aims to streamline the business, recover financial strength, and continue to deliver exceptional experiences for brands, boutiques, and customers.

 

As the dust settles on these significant changes, one can’t help but wonder about the future of Farfetch. How will these changes impact the company’s direction and its standing in the e-commerce industry? We invite you to share your thoughts and perspectives on this topic. What do you think lies ahead for Farfetch?

 

 

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