Vitruvian leads $66m financing for online boutique fashion seller Farfetch


fashion_shoe_170sqRapid growth industry-focused private equity firm Vitruvian Partners has led a $66m Series D financing round for online fashion retailer Farfetch.

The company’s website brings together more than 300 independent designer boutiques

Founded in 2008 by the Portuguese entrepreneur José Neves, Farfetch offers independent bricks-and-mortar boutiques the opportunity to compete with the major players in online retail.

Farfetch’s existing investors Condé Nast International and Advent Ventures also took part in the round alongside new investor Richard Chen, a venture partner at Chinese early stage investment firm Ceyuan.

The company said the equity would be used to continue its rapid growth by building out its global presence, further investment in technology and developing the organisation’s omni-channel offering.

Farfetch currently has annual sales of $275m and year-on-year growth of 100 per cent.

Vitruvian managing partner Mike Risman 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 development plans.”

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