Online fashion marketplace Farfetch has announced its latest round of funding, which totals to a whopping $110 million and is led by group of new shareholders, including French investment company Eurazeo, which also has stakes in such fashion brands as Moncler and Desigual. (In March 2015, Farfetch raised $86 million.)
"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," says José Neves, founder and CEO, in an official statement.
One of those markets is the Asia-Pacific region, including China, the e-commerce platform's second-largest market, and Japan. Farfetch also plans to use its new funds to expand on the technology front and continue its path towards world domination — particularly when it comes to omni-channel retail experiences, or the integration of brick-and-mortar with digital retail.
The multimillion-dollar announcement is just one in a number of recent successful strides by Farfetch. Earlier this year, the London startup expanded into beauty and kids wear. At the end of March, Manolo Blahnik became the first company to launch its website with Farfetch Black & White, a new business that develops full-fledged e-commerce platforms for brands à la Yoox. Neves expects to launch additional brands through Black & White this summer.