Online lingerie and fashion retailer Farfetch has been crowned the UK’s fasted growing retailer, ahead of Asos and Harrods.
According to a new retail growth index from OC&C Strategy Consultants, Farfetch, which sells Fleur Du Mal, Calvin Klein and Dolci Follie, took the top spot after ramping up 70% revenue growth in 2016.
While the e-tailer grabbed the top spot in the growth category, it ranked sixth in absolute growth after it raked in £268 million last year.
Founded in 2008, with offices in London, New York, Los Angeles, São Paulo and Porto, Farfetch showcases over 1,000 labels and is focused on supporting independent fashion.
It is represented by prestigious bloggers worldwide, including stylists, bloggers and curators.
“In the UK, the growth outliers have defied pessimistic forecasts by either clarifying their market positioning into value or luxury very clearly or by single-mindedly pursuing online growth,” said OC&C Strategy Consultants partner and Ted Baker board member Anita Balchandani, according to the Retail Gazette.
“There does not appear to be a growth premium for multi-channel retailers, but rather it’s the online pure-players or the store-led value formats that are finding the biggest growth.”