José Neves could have taken a victory lap around Wall Street on Thursday.
Investors were looking past $500 million in third-quarter net losses at Farfetch to higher sales, new customers, the promise of profitability, gains from the New Guards division and a much more digital future for luxury.
Shares of the digital platform shot up 14.6 percent to $49.51 in aftermarket trading. And that’s just the most recent gain, as the stock is up 76 percent this month and has increased more than 500 percent from a year ago, when investors were feeling shaky about the company’s move away from promotions and starting to own brands itself.
But when WWD asked Neves, Farfetch’s founder, chairman and chief executive officer, about the stock price, he demurred — as he did when the stock was trading at $8 last year — and zeroed in on his vision for the future of digital luxury fashion.
“We’re focused on our mission so we don’t focus on stock price movements,” Neves said. “We stay steady to our vision to be the global platform for luxury.”
That focus helped Farfetch last year as it cut back on promotions and accepted a period of slower growth