Farfetch.com receives funding from Condé Nast
Condé Nast has invested 20 million dollars (15.4 million euros) in Farfetch.com, the luxury e-commerce site that unites independent fashion boutiques across Europe such as L’Eclaireur, Hostem, The Webster and Cocodrillo. The site’s existing investors – Advent Partners, Index Ventures and e.ventures – have also contributed extra funds.
The luxury e-commerce site rounds up 250 of the most reputable boutiques across the world. Turnover in 2012 is reported to be at 129 million dollars, a progression of 145% from 2011.
“This investment will fuel our entry to new markets while assisting our growth in existing ones,” said José Neves, Founder and Chief Executive of Farfetch.com.
James Bilefield, CEO of Condé Nast Digital, will join the Farfetch Board of Executives. “As the leading multimedia publisher connecting people to the fashion brands they love, this investment underlines our commitment to extend the scope of our activities and back great entrepreneurs,” declared Bilefield.
Last month, Condé Nast also invested in German e-commerce sites Monoqi and Renesim.
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