farfetch.com raises $18m to accelerate growth and expands further into US, Brazil and Asia

Press Release:

London, UK – 16 January 2012 – farfetch.com, the fast-growing worldwide curated marketplace for independent fashion boutiques, today announced that it has raised $18 million in a further expansion round of funding from Index Ventures, eVenture Capital Partnersand existing investors Advent Venture Partners.

The new round of funding will allow farfetch.com to expand and deepen its brand and operational presence in its existing markets across Europe and North America, while implementing strategic growth efforts into new markets in the United States and Brazil and Asia.

In particular, farfetch.com will expand its brand and operational presence in the US market in 2012, by opening an additional office in New York. This will sit alongside an LA office and will further expand its 34 boutique partners. In support of this, farfetch.com has appointed Dara Gary to boost its U.S. Business development team. Gary was formerly Sales Director at BCBG MaxAzria.

London-based farfetch.com offers its customers a selective, curated online boutique network specialising in high-end fashion merchandise by internationally-recognized designer brands, both established and emerging labels.   Its unique and groundbreaking model unites independent boutiques with fashion lovers who crave diversity in selection and forward-thinking labels for men and women, and offers a choice of over 35,000 products.

Since its launch by José Neves in late 2008, farfetch.com has experienced rapid growth and consumer adoption, with a current annual sales growth rate of 204 percent. farfetch.com has more than 56,000 customers in 100 countries, with a widespread and diversified global footprint: 50 percent of sales are delivered to emerging and new markets.  farfetch.com has 110 boutique partners in Europe and the US, and 60 partners in Brazil.  The company currently represents over 200 boutique locations worldwide in 12 countries.

Also today, farfetch.com announced that Robin Klein, Venture Partner at Index Ventures would be added to its Board of Directors, joining Frederic Court, General Partner at Advent Venture Partners.

farfetch.com previously secured $6m funding from Advent Venture Partners, bringing its to-date total of equity investments to almost $25 million.

José Neves, CEO and Founder of farfetch.com, stated: “farfetch.com is growing extremely fast, and now has a strong international presence, aggregating an unrivalled product selection from boutiques in 12 different countries.  We felt it was the right time to scale up our team and operations and seize some fantastic opportunities we have in our core business in Europe and beyond in the US and Brazil and Asia.”

Robin Klein, Venture Partner at Index Ventures, says: “We strongly believe that the model of farfetch.com is one that will continue to grow and expand globally, and attract a very engaged and loyal base of fashion connoisseurs across markets.  It is not only unique, but it is exceptional as well, both in terms of its offerings as well as its management.  With Jose Neves and a great team of talent at the helm, 2012 will be another breakout year for farfetch.com.”

“farfetch.com is ideally positioned to create the next global independent franchise in online fashion and luxury,” said Frederic Court, General Partner at Advent Venture Partners. “Since we backed farfetch.com two years ago the company has grown from strength to strength, and we are delighted to add some excellent backers alongside us to support the team on this journey”.

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About farfetch.com
farfetch.com is the brainchild of serial entrepreneur José Neves and combines his two passions; fashion and technology. The concept brings together the collections of more than 100 of Europe and North America’s most influential designer boutiques in one shopping website. With boutiques in over 200 locations in more than 12 countries, farfetch.com provides an exciting range of designers and labels from a truly global spectrum. Partnering with stores that are industry leaders including visionaries such as Pollyanna (UK), Satine (US), L’Eclaireur (France) and Penelope (Italy), along with newer stores that specialise in up-and-coming talent like RA in Antwerp and b store in London, the 35,000 strong farfetch.com product offer combines an eclectic mix of high-end luxury with casual contemporary and emerging fashion labels across womenswear, menswear, accessories and lifestyle.

www.farfetch.com

About Index Ventures
Index Ventures is a venture capital firm, founded in 1996, that partners with entrepreneurs in the technology, biotech and clean tech industries. The team is based in Geneva, London, and Jersey and will open a Silicon Valley office in the Fall of 2011. Index works closely with companies at all stages to build disruptive technologies and emerge as market defining global leaders. The firm is currently investing from the Index Ventures Seed Fund (2010), Index Ventures fund V (€350 million, 2009) and the Index Ventures Growth I fund (€400 million, 2008).  Successful exits from the technology portfolio include Lovefilm (acquired by Amazon), Betfair (LSE : BET.L), Playfish (acquired by Electronic Arts), MySQL (acquired by Sun), Last.fm (acquired by CBS) and Skype (acquired by eBay).  Index’s current investments include Adconion, AlertMe, ASOS, Criteo, Boku, Etsy, Factual, Flipboard, GroupSpaces, Mimecast, MOO, Moshi Monsters, Ozon.ru, Rightscale, Sonos, Privalia, Rightscale, Trialpay and viagogo.  For more information, please visit www.indexventures.com or follow us on Twitter: www.twitter.com/indexventures

About Advent Venture Partners

Advent Venture Partners is one of Europe's most successful growth and venture capital investors in market-leading tech and life sciences businesses. Advent Venture Partners tech team invests in proven, highly differentiated businesses with exceptional capital efficient growth and our portfolio includes Vitrue, social media management software, Worldstores, multi-niche eCommerce retailer, and Farfetch, online fashion marketplace. Our successes in 2011 included Zong, frictionless mobile payments provider sold to eBay, Dailymotion, online video sharing site sold to Orange and The Foundry, software company for visual effects production sold to Carlyle.

To read Frederic Court's blog post on farfetch.com, please click here.


About eVenture Capital Partners

eVenture Capital Partners (eVenture) is an early stage venture capital firm focused on innovative internet companies. eVenture holds diverse Funds with the German Otto Group as a main investor. Shares vary typically from 0,5 to 10 million Euros and run up to a 10 year period.

eVenture claims to create new markets with revolutionary business models. Investors accompany professional founders to create successful and sustainable companies worldwide. Shares of companies like Groupon, Angie’s List, Shopping.com, del.icio.us, Sonos and kaufDa are held by eVenture.

The international team of eVenture supports its portfolio companies in all important markets to develop international competitive companies. Locations in San Francisco, Hamburg, Moscow and Rio de Janeiro and an associated fund in Asia guarantee the contact to the most pulsating internet hot spots.

Media Contacts

Sameera Hassan,
Sameera.hassan@farfetch.com.

Laura Lynne,
Sparkpr
laura@sparkpr.com
0207 377 2915

 

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