José Manuel Ferreira Neves (born 26 June 1974) is a Portuguese entrepreneur and the founder of

Farfetch Farfetch is a British e-commerce company focused on luxury clothing and beauty products. It operates as a digital marketplace that sells products from several hundred brands, boutiques and department stores from around the world. In January 2024 ...

, a global luxury fashion online platform.

Early life

José Neves was born on 26 June 1974. He grew up in

Porto Porto (), also known in English language, English as Oporto, is the List of cities in Portugal, second largest city in Portugal, after Lisbon. It is the capital of the Porto District and one of the Iberian Peninsula's major urban areas. Porto c ...

, Portugal, where his grandfather owned a shoe factory. He studied economics at the

University of Porto The University of Porto (''Universidade do Porto'') is a Portuguese public research university located in Porto, and founded on 22 March 1911. It is the second largest Portuguese university by number of enrolled students, after the University ...

Career

Neves founded his first tech company, Grey Matter, while studying at university. The company provided software for clothing manufacturers. In the same year, he founded a software firm called Platforme for small fashion brands in 1996. In 1996, at the age of 22, he launched a footwear brand named Swear, and opened a store in London. The brand sold to other shops. He started a retail fashion store named bstore on

Savile Row Savile Row (pronounced ) is a street in Mayfair, central London. Known principally for its traditional bespoke tailoring for men, the street has had a varied history that has included accommodating the headquarters of the Royal Geographical ...

in London in 2001. In 2008, Neves founded

. In June 2017, Farfetch sold a minority stake to JD.com, for US$397 million, prior to launching in China. In September 2018, following the IPO of Farfetch on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

, Neves' stake in the company was valued at US$1.4 billion. By 2022, Farfetch began facing operational and financial challenges, including declining margins, slower-than-expected growth, and missed earnings targets. Investor confidence waned further when the company abruptly cancelled its Q3 2023 earnings release. In January 2024, Farfetch entered a pre-pack administration process and was acquired by South Korean e-commerce giant Coupang for $500 million. The deal, structured as a rescue financing agreement, wiped out existing shareholders. Neves stepped down as CEO following the sale. The acquisition drew significant criticism from institutional investors, including the "2027 Ad Hoc Group", who alleged the sale deterred competing bids through restrictive pre-deal clauses. Multiple lawsuits were subsequently filed in the US and UK alleging shareholder fraud, mismanagement, and failure of governance by Neves and other board members.

Personal life

Neves is married and has five children, previously lived in

Guimarães Guimarães () is a city and municipality located in northern Portugal, in the district of Braga. Its historic town centre has been listed as a UNESCO World Heritage Site since 2001, in recognition for being an "exceptionally well-preserved ...

, Portugal. and

Clerkenwell Clerkenwell ( ) is an area of central London, England. Clerkenwell was an Civil Parish#Ancient parishes, ancient parish from the medieval period onwards, and now forms the south-western part of the London Borough of Islington. The St James's C ...

, London. However Neves has since relocated to Brazil. In legal proceedings before the High Court of England and Wales, his legal team argued that he is no longer under UK jurisdiction due to his current residence in Brazil.

References

{{DEFAULTSORT:Neves, Jose 1974 births Living people People from Porto University of Porto alumni Portuguese billionaires People from Guimarães