Alibaba Group’s president, J Michael Evans, has resigned from the board of Farfetch, the luxury e-tail site. This comes as part of the “arm’s length commercial relationship” between Farfetch and Alibaba and Richemont. Evans had joined the board in 2020 after the partnership between the companies was finalized. However, Farfetch has made it clear that Evans’ resignation is not a result of any disagreements or issues with the company or its operations.

Farfetch has recently been facing challenges, which may have contributed to Evans’ departure. The company’s share price has seen a significant decline of over 30% in the past month. There have also been rumors surrounding the founder, José Neves, attempting to raise funding and uncertainties about the completion of its Yoox Net-a-Porter (YNAP) deal and potential asset sales.

Despite these challenges, Farfetch is continuing to operate normally on its e-tail site. The company recently announced a collaboration with luxury fashion brand Dolce & Gabbana. This collaboration offers exclusive early access to the Flower Power Pre-Spring 2024 women’s collection, which draws inspiration from the 1960s and blends nostalgia with modern sophistication. This partnership showcases Farfetch’s commitment to providing its customers with unique and exclusive offerings.

In addition, Farfetch has launched Farfetch Beat 012, the second installment of Nas and Futura’s vinyl trilogy with 12on12. This limited release features a new cover that celebrates the 50th anniversary of hip-hop and its cultural impact. This initiative demonstrates Farfetch’s dedication to offering a diverse range of products and experiences to its global audience.

Despite the changes and uncertainties in the company, Farfetch remains steadfast in its mission to provide exceptional products and experiences to its customers. The collaboration with Dolce & Gabbana and the release of Farfetch Beat 012 highlight the company’s commitment to remaining innovative and relevant in the luxury e-commerce industry.

Useful links:
1. Farfetch Official Website
2. J Michael Evans Steps Down from Farfetch Board (source)