Farfetch raises $66m in a Series D funding round led by Vitruvian Partners with Conde Nast International and Advent Ventures participating in the round
London-based Farfetch, a leading technology business enabling over 300 of the world’s finest fashion boutiques to access a global customer base through its online eCommerce platform, today announced the closure of a financing round of $66m led by funds managed by Vitruvian Partners, a European private equity firm, with existing investors Conde Nast International and Advent Ventures also participating. Farfetch grew revenues in excess of 100% in 2013 and the equity will be used to build out the company’s global presence, invest further in technology and mobile capabilities, and also to further develop an omni-channel offering.
José Neves, Founder and Chief Executive of Farfetch, remarked:
We are excited to be working with Vitruvian Partners. This round of investment will help fuel a number of our key strategic goals including facilitating our omni-channel proposition, escalating the development of local language sites for key new markets (Russia, Japan, China) and accelerating engineering developments to help facilitate a dynamic responsive experience.
Mike Risman, a Managing Partner of Vitruvian Partners, said:
The Farfetch platform enables the world’s leading fashion boutiques to present the largest range of premium luxury brands and carefully curated products available in the market today. With an international omni-channel service capability and excellent product availability on coveted fashion items, Farfetch’s ability to serve the luxury consumer is unique. The growth of Farfetch, and the brands and boutiques it serves, has been very impressive as a result. We are delighted to have this opportunity to partner with a first-class entrepreneurial team and investor group. We trust that our investment will give Farfetch a very strong financial platform for its future development plans.