Private equity firm Vitruvian Partners has led a funding round for Farfetch. The British online luxuryfashion boutique Farfetch has secured 66 million dollars to fuel their international growth in Brazil and Asia.
“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 a dynamic responsive experience,” Farfetch founder and CEO José Neves Farfetch said in a note.
Vitruvian Partners has led the fundraising and got on board existing investors such as Condé Nast International and Advent Ventures. New investor Richard Chen, venture partner at Chinese VC firm Ceyuan, was also part of the round.
The 66 million dollars Series D round of investment will be put into the e-tailer's international growth, product development and a strengthened omni-channel strategy. Having previously raised funding in 2012, led by Index Ventures, Farfetch has now obtained 110 million dollars to-date.
Launched in 2008, Farfetch now has annual sales of 275 million dollars and year-on-year growth of 100 percent.