Online retailer Farfetch raises $110m for Asia expansion

Existing investor Vitruvian Partners also participated in the equity financing round. In addition to that, Farfetch also secured $50 million in loans to boost its growth.

Founded in 2008, Farfetch has more than 400 independent designer boutiques and global fashion brands selling products through its online platform. Operating under a marketplace model, the company charges a commission on each transaction. Last year, total transaction value exceeded $500 million.

The firm previously raised capital from investors including Advent Ventures Partners, Index Ventures, e.Ventures, DST Global and Richard Chen - a venture partner at Chinese VC firm Ceyuan.

The platform now operates in nine languages servicing more than 190 countries. Besides Farfetch.com, the company has also developed Farfetch Black & White, which allows brands to use Farfetch's e-commerce platform on their own sites. Last May, Farfetch acquired London-based boutique Browns as part of the effort to expand offline.

The new funding will further Farfetch's global expansion with a particular focus on Asia, which currently accounts for 26% of sales. China alone represents about 12% and is the company's second-largest market.

"We are particularly excited about the growth of Farfetch in China where we hope to help them achieve even greater success," Alexandre Quirici, a partner at IDG, said in a statement.

 

 

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• Topics
• Greater China
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• China
• Temasek Holdings
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