Farfetch Raises Another $86 Million to Fuel International Expansion
Farfetch founder Jose Neves, center. Photo: Stuart C. Wilson/Getty Images
It was only 10 months ago that the online boutique marketplace Farfetch raised $66 million to finance its international expansion and take its business into the real world with a click-and-collect service, but the startup has gone and done it again. On Wednesday morning, Farfetch announced that it's closed its fifth round of funding at $86 million.
Condé Nast International and Vitruvian Partners, already investors in the company, came back to participate in the round, which was led by DST Global. In case you were wondering, this investment puts Farfetch's total backing at nearly $200 million.
What's Farfetch doing with all that money? According to a release from the company, the same things as last time: international expansion and omnichannel initiatives like same-day delivery in new global markets. For the former, that will mean launching new local language sites in German, Korean and Spanish, entering new markets, and adding suppliers from Japan and Australia to its global roster of boutiques and brands.
Recommended Articles
With these operationally expensive maneuvers, Farfetch has been building a network that's both global and very local. Its click-and-collect service, which it launched in November just in time for the holiday rush, gave customers the option to order products from any boutique in Farfetch's universe and pick it up from another. Delivering on both levels is a big task for a company that's only been around since 2007, but hey, at least it's got the cash to make it happen.
