LONDON — Farfetch, the London-based e-commerce site for a global network of independent boutiques, has raised $66 million in a series D round of investment led by private equity firm Vitruvian Partners, the company said Thursday.
Farfetch's existing investors Conde Nast International and Advent Ventures also participated in the round of funding, along with a new investor Richard Chen, who is venture partner at the Chinese venture capital firm Ceyuan.
Farfetch said in a statement that it would use the equity to build the company’s global presence, further invest in technology and develop Farfetch’s omni-channel offering.
Mike Risman, managing partner of Vitruvian Partners said: “With an international omni-channel service capability and excellent product availability…Farfetch’s ability to serve the luxury customer is unique,” he said. “We trust that our investment will give Farfetch a very strong financial platform for its future development plans.”
José Neves, founder and chief executive officer of Farfetch said the round of funding would support a number of the firm’s “key strategic goals.” Neves said they included facilitating the firm’s omni-channel proposition, escalating the development of local language sites in its key new markets of Russia, China and Japan and accelerating engineering developments to create what Neves called “a dynamic, responsive experience,” on the site.
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