Victor Duran of Farfetch: "Retailers are looking to replicate the physical store shopping experience in the online channel".

Víctor Durán, Senior Product Manager at Farfetch, unveiled the keys to Farfetch as a paradigm of a well-functioning ecommerce in the webinar "Farfetch: The Challenges of Fashion Ecommerce" organized by ISEM Fashion Business School. Durán used the example of his company to discuss different aspects of the history of ecommerce as well as the current challenges facing the fashion sector in online sales.

Farfetch, in the words of the speaker, could be defined as "a company that is on the borderline between a technology company and a fashion company". The platform is hyper-specialized in luxury fashion and, therefore, its ultimate goal is to connect the demand for luxury with the corresponding supply.

Following the company's presentation, Víctor Durán pointed out several keys to keep in mind for the growth of online sales in the future. On the one hand, he pointed out that the penetration of the online market will reach 30% of the total market by 2025: "Everything we do now to position ourselves in the online market will help us to capture value and grow the category itself, which means we will be able to benefit from this online growth in the future.

The Chinese market and omnichannel marketing

On the other hand, he encouraged attendees to look at China, "a country that by 2025 will account for more than 50% of luxury consumers. He also commented on the clear omni-channel trend that has been dominating the industry for some time: "Retailers are working hard to replicate the physical store shopping experience in the online channel.

Before working for Farfetch, Victor Duran developed for more than 4 years several technological and innovation projects for Telefonica. He also began his professional career at Danone, in the marketing department of the company.