UK’s Farfetch secures $110m investment

4 May 2016 (Last Updated May 4th, 2016 18:30)

UK-based online luxury fashion retailer Farfetch has secured $110m in funding.

UK-based online luxury fashion retailer Farfetch has secured $110m in funding.

The Series F round of investment was led by new investors, including Temasek, IDG Capital Partners and Eurazeo, along with existing investor Vitruvian Partners.

Farfetch intends to use the funds to contine expanding its technology platform and further develop this for the global fashion industry.

"This investment comes after strong inbound interest from investors."

The funding will also help the company to consolidate its position in China, Japan and other APAC countries.

China represents 12% of Farfetch's sales and APAC collectively represents a further 14%.

Farfetch founder and CEO José Neves said: "The vision for Farfetch was always to seamlessly integrate physical retail with digital platforms, which we have been doing since 2008, first starting with boutiques and 12 months ago adding brands to our global platform.

"This investment comes after strong inbound interest from investors, some of which we felt could really help Farfetch in our largest and fastest growing markets, or had exposure to marketplaces and luxury fashion."

Last March, the company expanded the site's roster of retail partners to include direct contracts with brands.

Farfetch also secured a $50m growth capital loan facility with TriplePoint Venture Growth BDC in March this year.