Luxury's Growth Lane

China's Latest TV Craze [View on Web]( [Add to contacts]( [New reader? Subscribe]( [BoF]( THE DAILY DIGEST ADVERTISEMENT [BoFLive DerrickGay CNL 17Aug20]( THE UPFRONT Dear BoF Community, How did luxury consumers spend their quarantine? Mostly shopping online, judging from Farfetch's latest financial results. The online luxury marketplace saw a 48 percent jump in sales through its platforms, and expects more of the same in the current quarter. Chantal Fernandez breaks down the results and explains [what they say about the state of luxury fashion.Â]( Elsewhere, Zoe Suen takes a look at [the smash hit Chinese television programmes]( that can get brands in front of hundreds of millions of potential customers. And don't miss the latest BoF Podcast, where Imran Amed talks with [model and activist Lily Cole]( about her new book, Who Cares Wins. Brian Baskin, News and Features Editor TODAY'S MUST READ [News & Analysis]( [Farfetch Sales Soared as Online Shopping Took Off During Lockdowns]( BY Chantal Fernandez [The fashion marketplace sold record levels of merchandise and cut down on its losses as lockdown luxury customers pivoted online.]( NEW YORK, United States — Consumers logged online to shop in huge numbers while under lockdown, according to the latest financial results from Farfetch. The company saw the total value of products sold on its platforms surge by 48 percent to $721 million in the second quarter, which translated to $365 million in revenue for the company. The growth was driven by 500,000 new customers, the company said, which pushed site traffic up 60 percent year-over-year.  The results reveal that Farfetch is benefiting from some of the same forces hurting many of the brands offered on its site. The pandemic has proven to be an exceptionally challenging period for the luxury fashion business, which Bain & Company projects will shrink by as much as 35 percent this year. Farfetch is planning to ride the wave to profitability. The fashion marketplace went public in 2018 and has been dogged by criticism from analysts in recent years for its high customer acquisition costs, shifting business model and acquisitions. But analysts are bullish on the current prospects. The company’s share price has more than doubled this year, while Kering and LVMH have yet to recover from steep declines early into the pandemic. [Read More.]( To access this article, become a BoF Professional Member [JOIN]( TOP STORIES [China Decoded]( [How Fashion Can Tap Into China’s Latest TV Craze]( BY Zoe Suen [Hit programmes are a powerful way for brands to appeal to China’s 900 million internet users, but the mass marketing approach won’t pay off for everyone. Which brands are in position to benefit most?]( To access this article, become a BoF Professional Member [JOIN]( [Podcasts]( [The BoF Podcast: Lily Cole on Why the Fashion System Needs Reform Now]( BY BoF Team [The model and activist speaks with BoF Founder and Editor-in-Chief Imran Amed about the lessons she learnt while writing her new book Who Cares Wins.]( [News & Analysis]( [Live Masterclass: How to Become a Diversity and Inclusion Change Agent]( BY BoF Team [What does it take to actually increase diversity and deepen inclusivity in fashion? In this special BoFLIVE masterclass, diversity and inclusion expert Dr Derrick Gay outlines best practices and pitfalls in fostering a more equitable industry.]( [Sponsored feature]( [How to Connect With the Luxury Consumer Post-Pandemic]( BY BoF Team [BoF sits down with Quintessentially’s Group Chief Executive Annastasia Seebohm to hear how luxury expenditure has evolved, and to discover how brands should innovate their consumer engagement strategies to gain competitive advantage in our new reality.]( [IN OTHER NEWS]( [Live Blog: W Magazine Acquired by Group Including Bustle and Karlie Kloss]( [Tapestry Beats Quarterly Sales Estimates]( [Power Moves | CFDA Names New President, PVH Corp Hires New Chief Human Resources Officer From Nike]( [DAILY DIGEST Fashion News from Around the Web]( 1 [Fashion’s Big Question: What to Do With All Those Unsold Clothes?]( [THE WALL STREET JOURNAL]( 2 [Traditional Wholesale Isn't Working Anymore. 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