Farfetch raises $86m to fund international expansion
Farfetch, the online marketplace for independent fashion boutiques, has raised US$86 million from investment firm DST Global and existing shareholders. This new funding values the company at US$1 billion.
The investment will be used to fund international expansion including the launch of new local language sites in German, Korean and Spanish, the opening of new offices in key global markets, and the opening up of new markets Japan and Australia to the supply side of the marketplace.
It will also fuel the company’s omni-channel growth and customer propositions including launching same-day delivery in multiple global markets and the continued development of VIP and loyalty programmes for Farfetch customers in 180 countries.
Jose Neves, founder and chief executive of Farfetch, said: “We have had an amazing journey so far, and it’s great to add DST to our already fantastic group of backers for the next stage of growth of Farfetch. The challenge now is to keep innovating and focus on establishing a long-lasting global brand.”
Farfetch’s existing investors Conde Nast International and Vitruvian Partners also participated in the round.
The company’s current investors also include Advent Ventures Partners, Index Ventures, Novel TMT and e.Ventures. This latest investment puts the total amount raised by Farfetch at over US$195 million.
