UK-based fashion e-commerce company Farfetch has raised $86m in series E funding from investors including media company Condé Nast International, Business of Fashion reported today.
Investment firm DST Global led the round, which also featured private equity firm Vitruvian Partners, and which reportedly valued Farfetch at $1bn.
Farfetch operates an e-commerce platform that sells clothes sourced from more than 300 fashion boutiques covering more than 1,000 labels.
The series E capital will support international expansion, as Farfetch prepares to launch German, Korean and Spanish language sites and to expand form the five offices it runs in London, New York, Los Angeles, Porto and São Paulo.
Additional funds will go to establishing new services, such as same-day delivery, while growing its boutique network with suppliers in Japan and Australia.
Jose Neves, founder and CEO of Farfetch, explained to TechCrunch: “We have no plans to launch a private label or add any inventory.
“The plan is to continue to be a marketplace and connect global retailers.”
The latest funding takes Farfetch’s total equity to approximately $195m since it was founded in 2008, with Condé Nast having led its $20m series C round, raised in 2013. Other investors in the company include Advent Venture Partners, Index Ventures and E.ventures.
– Photo courtesy of Farfetch.com Ltd.