Losses at London-founded Farfetch more than doubled to £75.8 million ahead of the luxury online retailer floating in New York last month, fresh documents reveal.
Accounts just filed for the firm, which stocks labels such as Barbour, Jimmy Choo and Stella McCartney, outline a number of investments made in 2017 by the business, which was founded by entrepreneur José Neves 10 years ago.
Money was pumped into research and development linked to the website, and Farfetch bought etailer Style.com from Condé Nast.
Losses last year increased to £75.7 million from a £35.7 million loss a year earlier. However, sales jumped to £247.7 million from £140.8 million.
The report added there is strong demand from customers and it is confident in its future outlook.
Risks it may have to grapple with include the “potential emergence of new competitors and increased activity from existing competitors, including offline retailers moving online”.
It was valued at $6.2 billion (£4.9 billion) in its New York listing.
