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Farfetch plots expansion after new investment

Indie etail portal Farfetch is to ramp up its international expansion after receiving $20m (£13.3m) investment from Conde Nast International.

As part of the investment, James Bilefield, president of Conde Nast International Digital, will join the Farfetch board. 

Conde Nast chairman and chief executive Jonathan Newhouse said: “Farfetch has a unique position, connecting boutiques around the world by e-commerce to sophisticated fashion customers like our magazine readers and website users. It’s a natural for Condé Nast.”

José Neves, founder and chief executive of Farfetch, added: “This investment will fuel our entry to new markets while assisting our growth in existing ones. Our goal to build a unique curated global franchise in online designer fashion is brought several steps closer through the exciting involvement of Condé Nast.”

This latest investment follows on from an injection of $18m (£11.7m) in January last year.

At the time the business said it would use the money - from groups Index Ventures, Advent Venture Partners, and its first investor, eVenture Capital Partners – to strengthen its customer service, technology, online marketing, general business development, account management and logistics teams.

Existing investors Advent Venture Partners, Index Ventures and also participated in the fundraising.

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