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Farfetch gears up for fashion store of the future * Fashion retailer investing in tech, including for shops * Plans to roll out store technology to some partners - CEO * Staff of engineers at Farfetch growing to 1,600 in 2018 * CEO Jose Neves declines to comment on IPO plans LONDON, Jan 31 (Reuters) - London-based online fashion retailer Farfetch plans to roll out new technology to revolutionise shopping in stores in the coming months, its chief executive said on Wednesday. Farfetch, long tipped for a stock market listing, runs an online marketplace allowing people to buy luxury clothes or accessories from more than 700 brands and boutiques worldwide. After buying London boutique Browns in 2015, Farfetch is also working on technology that allows customers to flag a wish list of items via their phones when they stroll into a store, or even tell assistants that they are not feeling chatty. Portuguese CEO and founder Jose Neves, who previously started a shoe brand, said Farfetch is trialling such services and will start adapting them for other brands or boutiques. “The plan is to this year start rolling out very selectively to other partners,” Neves said in an interview. “We think it’s a tremendous opportunity and it’s actually inevitable. Retail shops still operate in the 80s.” Luxury goods firms including industry leaders like Louis Vuitton owner LVMH or Gucci parent Kering have recently made a big push to sell their wares online, launching and revamping e-commerce sites for various labels. Cartier owner Richemont last week said it would bid for full control of Farfetch’s larger rival, luxury retailer Yoox Net-A-Porter, as it tries to do more on the web. Unlike Yoox, Farfetch does not have to stock inventory.
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