Indie etail portal Farfetch is to launch same-day delivery in London and other global markets, and will introduce new local language sites including German, Korean and Spanish this year, after receiving $86m (£56m) investment led by Russian firm DST Global.
The new investment, which values Farfetch at $1bn (£652m), will be used to expand its international expansion, with new offices in key global markets, as well as opening up new markets Japan and Australia to retailers using the portal. The locations of the new offices have not yet been disclosed. Farfetch’s headquarters are in London.
DST Global has previously invested in Facebook, Twitter, Air BnB and Spotify, and joins existing investors Condé Nast International and Vitruvian Partners in the latest funding round.
“We have had an amazing journey so far, and it’s great to add DST to our already fantastic group of backers for the next stage of growth of Farfetch,” said founder and chief executive José Neves. “The challenge is now to keep innovating and focus on establishing a long-lasting global brand.”
The latest investment puts the total raised by the company at over $195m (£127m).
Farfetch launched its first print, digital and outdoor advertising campaign this month, called Unfollow, which uses the tagline ‘300 boutiques, one address’.
There are currently 30 retailers using the platform in the UK, including B Store, Feathers and The Shop at Bluebird in London, Changing Rooms in Tunbridge Wells, Concept Seasons in Sheffield, Giulio in Cambridge, Please Don’t Tell in Belfast, Polyanna in Barnsley, Profile in Brighton and Zoo Fashions in Ilford.