Online luxury retailer Farfetch raises over £75 million for expansion

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The luxury brands etailer Farfetch has raised $110 million (£75.6 million) to aid expansion plans and attract more fashion-loving customers.

Founded in 2008 by Portuguese entrepreneur José Neves (pictured), the London-headquartered online shopping platform has grown to showcase over 1,000 brands, including Belstaff, Jimmy Choo and Lulu Guinness.

The Series F round of funding was led by new investors Temasek (Singaporean investment company), IDG Capital Partners and Eurazeo, with existing investor Vitruvian Partners also participating.

Money raised will be used to grow the business, with a focus on China. It also has offices in New York, Los Angeles, São Paulo and Porto.

Neves said: “This investment comes after strong inbound interest from investors, some of which we felt could really help Farfetch in our largest and fastest growing markets, or had exposure to marketplaces and luxury fashion.”

Most recently the British Fashion Council said that Farfetch will partner its fashion trust, offering selected designers business support through mentoring and financial awards.

Source Article from http://www.standard.co.uk/business/online-luxury-retailer-farfetch-raises-over-75-million-for-expansion-a3239451.html

May 4, 2016 |
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