March 10, 2015 1 Comment
The latest startup joining the billion dollar valuation club is ecommerce company, Farfetch. Based in the UK, Farfetch’s valuation came as it raised a whopping $86 million in its Series E funding round led by DST Global along with other investors Condé Nast International and Vitruvian Partners. So why is Farfetch so fundable? Farfetch is an online hub for independent boutiques. Its marketplace model allows small luxury fashion boutiques from across the world to sell their merchandise to shoppers online. Farfetch’s marketplace model has been so effective that the company has over 1,000 boutiques from more than 26 countries and more than 100,000 items being sold to buyers worldwide. Sales have been promising as well. In 2013, Farfetch generated sales of $275 million and has since had a revenue growth of 100% a year. In an industry that has long been dominated by large, well-known e-tailers, Farfetch has proved that there’s a chance for independent boutiques to not just survive but thrive in the cut-throat fashion ecommerce sector.
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