Global E-Commerce marketplace Farfetch announces a $86 million Series E round of investment led by DST Global London, NYC, 05 March 2015
Future Fifty company Farfetch announced today a $86 million Series E round of investment led by DST Global. Farfetch’s existing investors Condé Nast International and Vitruvian Partners also participated in the round.
Yuri Milner, founder of DST Global, said: “Farfetch has a strong team, impressive growth and great potential to capitalise on the fast growing luxury fashion e-commerce market.”
This new investment, which values the company at $1billion, puts Farfetch in a strong position to continue its rapid growth, focusing on international expansion and omni-channel propositions.
The funding will be used specifically to focus on international expansion with new local language sites, including German, Korean and Spanish; opening new offices in key global locations; and opening up new markets Japan and Australia to the supply side. 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 programs for Farfetch customers in 180 countries.
José Neves, Founder and Chief Executive Officer of Farfetch, remarked: “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 development has been remarkably dynamic over the last few years. We are happy to support the talented management team who drive the company forward on its successful course.”, said Moritz von Laffert, Vice President and Director of Acquisitions and Investments at Condé Nast International.
Farfetch’s current investors also include: – Advent Ventures Partners, Index Ventures, Novel TMT and e.Ventures. This latest investment puts the total amount raised by the company at over $195 million.