Farfetch.com: An End to Austerity in Sight as Luxury Brands Report Upswing

By Farfetch.com, PRNE
Thursday, June 2, 2011

LONDON, June 3, 2011 -

As luxury goods makers at the Reuters Global Luxury and Fashion Summit
say they expect 2011 to be one of their strongest years in recent history,
farfetch.com announces an end to austerity.

Last week, luxury goods makers such as Lamborghini, L'Oreal, Cerruti and
Roberto Cavalli were among those at the Reuters Global Luxury and Fashion
Summit to announce that they had seen an upswing in sales and expected 2011
to be one of their strongest years since the recession hit - the retailers
say this is thanks to the input of fast growing countries such as China and a
worldwide boost in consumer confidence. www.farfetch.com, which gives
customers access to the best designer boutiques in one easy to shop website,
is also reporting a surge in sales since the start of the year, the company
says this shows that the dark days of the recession are coming to an end.

Paul Brine, spokesperson for farfetch.com, comments: "Consumers are
finally beginning to feel confident about treating themselves to luxury goods
again. At farfetch.com we have noticed that our own customers are starting to
return to pre-recession purchasing habits and we have seen a recent surge in
sales in items such as designer dresses (
www.farfetch.com/shopping/women/dresses/items.aspx), purses and

U.S. consultancy firm Bain has recently raised its 2011 growth forecast
for sales of luxury products: it expects such sales to reach at least 185
billion euros
in 2011 - up from 172 billion euros in 2010. Meanwhile, Roberto
(www.robertocavalli.com/welcome.do), a fashion house known for
its sumptuous animal prints and beautifully cut cocktail dresses, said they
are predicting sales to surge by up to 30 per cent this year, thanks to a
strong demand from Asia and growing markets abroad.

Brine comments: "Despite fears over Japan's financial woes and debt
worries in Europe, the fashion industry has gone from strength to strength in
2011. Mergers and acquisitions are returning to pre-recession levels, notably
with the recent acquisition of Jimmy Choo by luxury goods group Labelux,
which shows that investor confidence in the industry is also on the rise. As
consumers turn their backs on the throw-away fashion of the high street and
return to purchasing high quality luxury goods, such as men's designer bags
(www.farfetch.com/shopping/men/bags-purses/items.aspx), we at
farfetch.com are predicting an end to the austere days of the financial

Fashion lovers can find high quality luxury fashion pieces through
farfetch.com. Items are sourced from boutiques around the world and delivered
directly to customer's homes.

About farfetch.com:

farfetch.com unites the world's best independent fashion boutiques, so
that you can buy from the most interesting designer fashion brands globally
in one easy-to-shop website. Our aim is to provide an exciting range of
designers and labels, while maintaining the personality of unique,
independent boutiques. This new concept means you can shop from boutiques in
Paris, London, Como, Copenhagen, California and New York in just a few
seconds, all from the comfort of your own home or office.

Contact Details: Paul Brine, Chief Marketing Officer 60-62 Commercial St,
London, E16LT, +44(0)20-3178-8682, paul.brine at farfetch.com

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