Business Development Manager at Farfetch

New York, New York, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Luxury Fashion, E-commerceIndustries

Requirements

Bachelor’s degree with a strong quantitative component
4-6 years commercial experience with an emphasis on business to business relations, business development or sales
Experience in fashion or luxury industry preferred
Strong relationships in luxury, ecommerce, retail or fashion industries
Excellent planning and organisational skills; expertise to manage and improve complex projects
Exceptional analytical and quantitative problem solving skills
Analytical, commercially minded, strategic thinker
Confident in managing complicated cross-functional projects and influencing change across senior stakeholders, both internal and external

Responsibilities

Support in developing short, medium & long term business development strategy for Farfetch North America region
Hit the ground running to support current business development workstreams
Stay up to date on current industry trends & challenges; pivoting business development strategy in real time based on business needs
Understand the luxury ecommerce industry and the specificities of the US & Canada market, monitor other ecommerce channels outside Farfetch
Support commercial team on current partnership expansions & contract renewals
Support the design and implementation of ad-hoc commercial agreements to generate additional revenue working closely with other teams across the company
Ensure, maintain and facilitate on-going relationships with potential supply partners by working with other departments: Commercial Planning & Pricing, Account Management, Operations
Travel, when needed, to pitch Farfetch marketplace to relevant industry businesses (within continental US + Canada)
Collaborate with the Head of Commercial on business development strategy for North America (US + Canada) across brands and multi-brand boutiques
Utilize established relationships with high-end boutiques and brands to introduce them to the Farfetch marketplace business model, build partnership strategy and external trust
Serve as the primary point of contact for potential new supply partners and work cross-functionally to project manage the successful onboarding of new business

Skills

Business Development

Strategic Partnerships

Luxury Fashion

Partnership Strategy

Project Management

Relationship Management

Sales Channels

Marketplace Business Model

Farfetch

Online marketplace for luxury fashion items

About Farfetch

Farfetch operates as a global online marketplace for luxury fashion, linking high-end brands and boutique retailers with consumers. The platform allows users to browse and purchase a wide range of luxury items, ensuring that both brands and retailers can reach a worldwide audience. Farfetch's business model is centered around facilitating these transactions, earning revenue primarily through commissions on sales made through its site. Additionally, it offers services like digital marketing and logistics to help its partners enhance their online presence. A distinguishing feature of Farfetch is its acquisition of LUXCLUSIF, a luxury resale platform, which enables it to cater to the growing demand for pre-owned luxury goods. The company's goal is to provide a seamless shopping experience for luxury fashion enthusiasts while supporting brands and retailers in expanding their reach.

London, United KingdomHeadquarters

2007Year Founded

$682.9MTotal Funding

IPOCompany Stage

Consumer Software, Consumer GoodsIndustries

1,001-5,000Employees

Benefits

Health Insurance

Flexible Work Hours

Employee Pension Scheme

Risks

Increased competition from Mytheresa could impact Farfetch's market share.

Farfetch faces challenges in maintaining its presence in the Chinese market.

The sale to Coupang indicates potential financial instability for Farfetch.

Differentiation

Farfetch connects luxury brands and consumers through a unique online marketplace.

The platform offers modular, API-enabled technology for luxury fashion brands.

Farfetch provides commerce solutions, enhancing brands' online presence and sales.

Upsides

Virtual try-on technology is gaining popularity in luxury fashion.

Farfetch can capitalize on Yoox Net-A-Porter's exit from China.

Exclusive partnerships, like with Officina Bernardi, enhance Farfetch's offerings.

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