FarFetch - Preparing For Market Shifts

Task:

In 2022-2023 Advicely supported FarFetch with a global marketing team re-organisation project. The aim, was to ensure that FarFetch's wider marketing and technology functions were highly adept to continue to grow in a market that was expected to cool off dramatically. 

What: 

FarFetch's marketing operations were spread over many different markets and many different functions. Alongside general marketing teams, there were technology teams, brand teams, new acquisitions teams, sales leads, private buying functions, separate creative functions and senior leadership including board members. This was also spread over multiple markets. 

This complex structure and variety of skills, functions and capabilities meant FarFetch's overall approach to revenue growth and marketing required much more synchronicity, especially with the expected global downturn in luxury purchases. 

Advicely was engaged to support in crafting an updated organisational design. Here, we interviewed 20+ senior members across the FarFetch ecosystem including board members senior leadership. 

Utilising a novel tool to arrange thoughts and insight from all people interviewed, Advicely worked with a partner consultancy to build out a defined re-organisation of FarFetch's entire marketing team. This utilised our cybernetics approach, engaging in underlying psychological profiles of different teams to create better insight into how to re-engage different work functions. 

By understanding core psychologies, we built a re-organisation plan that spread across multiple global markets that redefined how all functions engaged with one another. We also recommended automation technology and psychologically derivative processes to ensure better long term outcomes. 

Our cybernetics approach was greatly appreciated by Farfetch, with their teams remarking that they had never seen this system before among any consultants and thought it was an excellent approach. Their leadership team onboarded several of our recommendations and faced the market downturn with much more effective preparedness. 

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