Modest etailer The Modist has secured investment from Farfetch and the private equity vehicle for Nicola Bulgari, vice chairman of Bulgari Group, Annabel Investment Holding.
Ghizlan Guenez, founder and chief executive of The Modist said: “We are delighted to welcome Farfetch, an invaluable player in the world of luxury and innovative technology, and look forward to continuing our journey of growth with their support and expertise. Equally, Nicola Bulgari values excellence in the needs of the evolving luxury consumer, and we are thrilled to have his guidance and vast experience, thereby reaffirming our positioning in the rapidly evolving luxury modest fashion space”.
Founded two years ago, The Modist secured a $15m (£11.2m) investment led by female-led private equity firm Vaultier7 in June last year.
The etailer now ships to more than 120 countries globally and sells over 180 designer and contemporary brands including its own label, Layeur.
The Modist also has a presence as a retailer on Farfetch’s marketplace platform.