Spending on luxury goods has been and will continue to be, a secular trend.
E-commerce has impacted the retail sector greatly, and luxury goods shopping couldn't be spared. People are buying luxury goods digitally, and Farfetch operates the #1 platform globally.
CEO has a clear strategic vision, the acquisition of NGG could uncover great potential.
Opportunity in China, through the partnership with JD.com, has great potential.
After breaking down valuation and key risks, we believe Farfetch is a good buy at the current price level.
We are bullish on Farfetch (FTCH) at the current price of $10.5/share. We believe the potential upside of 40-50+% over the next 12-18 months in the stock is well worth the