The Series D venture capital deal has been closed by digital technology Farfetch, a business collating fashion boutiques from around the world. Founded in 2008 by Jose Neves, the retailer is now posting annual sales of $275 million and year-on-year growth of 100 per cent.
Prior to the venture’s fourth institutional funding round, previous transactions had seen it net $20 million in March 2013, $18 million in January 2012 and $4.5 million in July 2010. Contributors to those rounds included Advent Venture Partners, Index Ventures and e.ventures.
Also joining the new fundraising is Richard Chen, venture partner at Chinese investment firm Ceyuan.
Neves, CEO of Farfetch, comments, ‘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 responsive experience.’
Farfetch now has 300 global boutiques with in excess of 1,000 outlets providing 105,000 curated ‘luxury label’ products.
Mike Risman, managing partner at Vitruvian Partners, adds, ‘The Farfetch platform enables the world’s leading fashion boutiques to present the largest range of premium luxury brands and carefully curated products available to 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.’