Farfetch Change Strategy "No Follow Suit" Strategy Is Open

In the face of such a strong competition, the situation of no progress or retreat, every player in the market, no matter how strong or weak, is brewing his own "unique skill".

In fact, the fashion business is not a good business. There is no need to argue too much. From the recent developments in the industry, we can see that Farfetch got a $86 million investment in March 2015, while another British fashion business Lyst also recently received $40 million from the LVMH group.

In addition, the entire market competition pattern has also changed. With the announcement of the merger of Net-A-Porter and Yoox in March this year, the world's largest electricity supplier platform was officially born. Before the merger, the annual revenue of Net-A-Porter and Yoox in 2014 reached 785 million US dollars and 565 million US dollars respectively.

The same year revenues of Farfetch and Lyst were 300 million US dollars and 40 million US dollars respectively.

Farfetch, the UK's fashion e-commerce website, has recently launched the latest advertising plan with the theme of "no follow suit". It shows the latest positioning of the brand through the form of picture advertisements - a brand "for fashion lovers, not fashion followers" (a suitable fashion lover, not suited to follow suit.

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In order to show this theme, Farfetch came to the European advertising company Dorga5 to create a picture advertisement with "back" as its main image.

In addition to the phrase "for fashion lovers, not fashion followers" used to describe brand positioning, there are also statements such as "Look exactly like no one one (which looks absolutely different from others)" and "lovers".

"It's because we want people to pay more attention to our clothes, and I believe our customers visit Farfetch because they care about clothes and how they dress differently."

Farfetch CMO Stephanie Horton explained in an interview with Adage.com, an advertising news website.

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The release of the "no follow suit" series of ads can be seen as a clear definition of their brand positioning and an adjustment to cope with increasingly fierce market competition. Thereafter, Farfetch will pay more attention to the development of buyer's shop resources and be more cautious about selecting the top brands.

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"Our website is actually looking for something that can't be bought on other websites," Horton said. "Even if you can see the top 20 brands in other websites, you will see a completely different product selection on Farfetch, because our buyers come from all over the world, and imagine that the choice of a Tokyo buyer must be very different from that of the American buyer."