Farfetch designer shopping portal valued at over USD 1bn!

Whilst definitely not a “unicorn”, Farfetch, the UK online luxury fashion retailer, is certainly attracting the attention of both users and funders, having just announced another round of funding that puts the total value of the business at over USD 1bn, eight years after its initial launch.

Farfetch was launched back in 2008 to enable designer brands and independent boutiques to sell their goods online via a centralised place. Since its launch the company has already secured five rounds of funding totalling USD 195m and with the round just announced it will take the figure raised to over USD 300m. Previous investors have been quite diverse, ranging from high net worth individuals, venture capital firms, private equity firms, and even corporate venturing by Conde Nast International (the lifestyle magazine publisher). The latest round includes Temasek, the Singaporean sovereign wealth fund, and according to Farfetch this funding will help them build upon the 26 per cent of their sales originating from the Asia Pac region, hence why Temasek investment appears to be a great strategic move for them.

There will be definitely be a connection in the minds of online shoppers, who we know have an apparently insatiable demand for luxury goods, that if the company is good enough to be invested in by one Asia’s biggest funds its good enough to provide them with lots of online choices.