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A large number of new hires on Farfetch point to key areas of growth for the platform. Former Matchesfashion CEO Elizabeth von der Goltz has been appointed CEO of Browns and head of fashion and merchandising for Farfetch; Stephanie Simon has joined as VP of Community and Web3; and Sindhura Sarikonda will become Farfetch’s president of the Americas, the company announced Wednesday.

“I am delighted to welcome Elizabeth, Sindhura and Stephanie to Farfetch. Our 2023 plan is highly focused on continuing to advance our platform vision while delivering growth, profitability, and free cash flow. These hires will help us achieve that,” Farfetch President and CEO José Neves said in a statement.

Von der Goltz stepped down as CEO of Matchesfashion in September and was previously director of global purchasing at Net-a-Porter and senior vice president of general merchandise at Bergdorf Goodman. Simon joined this month from social audio platform Clubhouse, where she was Community Manager. Sarikonda was most recently Global Store Director at Klarna and, prior to that, Director of Beauty for Jet.com and General Manager of eCommerce for Walmart US.

In December, during the company’s first day of capital markets, senior management outlined its 2025 goals, which included diving into the tough luxury opportunity following its deal with Richemont in August, which included buying a 47.5 percent stake. percent on Yoox Net-a-Porter and the integration of nearly all Richemont houses into the Farfetch marketplace. In the short term, profitability is the focus: The company expects margins to improve through 2023, but noted that partnerships will reduce that. The company aims to achieve adjusted revenue of $3.5 billion by 2025.

Farfetch underperformed in the second half of 2022, but said engaging the Web3 community is a key focus. Over the past six months, the stock price has fallen 12.7% overall, reaching its lowest point in mid-December, but has started to recover since then with the stock price rising 58.41%. stocks from that drop to now.

the company said fashion business In December, Chief Human Resources Officer Sian Keane updates the Governance and Nominating Committee quarterly with succession planning and executive leadership development for the company. The company has diversity, equity and inclusion in mind and often develops relationships with the best candidates early, before positions become available.

Separately, two executives are leaving to “pursue other opportunities” according to the statement: Chief Brand Officer Holli Rogers, who resigned as Browns CEO in 2021; and the director of growth, Martin Avetisyan.

“On behalf of everyone at Farfetch, I would also like to pay a warm tribute to both Holli and Martin for the contributions they have made to the growth of Farfetch over the years,” Neves said. “I am very grateful for their leadership and experience, and I wish them all the best in their future endeavors.”

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