Farfetch is continuing to flex its global muscle.
Australia is among the marketplace’s fastest-growing regions from a consumer and revenue perspective, but the e-tail site had yet to sell items from any Australian boutiques — until today.
Melbourne- and Adelaide-based boutiques Le Louvre and The New Guard, respectively, have begun to sell their wares on Farfetch, as well as the flagship locations for brands including Alex Perry, Bassike, Dion Lee and Scanlan Theodore.
Farfetch chief executive officer José Neves said the first employee to be based in Australia was hired, who in addition to helping grow the country’s presence on the marketplace, will also join the company’s business development team.
“Our business model also means that we open these retailers up to a new global audience of shoppers who may never set foot in their physical stores,” Neves said of Australia. The region is known for its local design talent, but he explained that it’s sometimes been difficult for these labels to sell internationally.
The seven-year-old site, which does not own any stock, allows consumers from 180 countries to browse and purchase directly from the more than 300 stores worldwide. In March, Farfetch raised a Series E round of $86 million, bringing the total amount raised to more than $195 million and giving the company a valuation of $1 billion. In May, the company purchased British specialty store Browns with plans to grow the 45-year-old retailer’s e-commerce business.
He added that the marketplace recently signed four new boutiques in Japan.
“Until then we only had one boutique partner there. We now have a photography studio in Tokyo, too,” Neves said of the studio, which is the company’s fourth. “We now have the facilities to be able to support boutique partners across Asia. All of the product we sell on site is first sent to the local studio and photographed by our team.”