Fashion retailer Farfetch has raised millions of dollars, equating to £75 million, from investors ahead of planned expansion in Asia.
The move follows the acquisition of London-based fashion boutique Browns as well as moves to increase the number of boutique brands selling through the platform.
New investors Temasek, IDG Capital Partners and Eurazeo joined existing investor Vitruvian Partners to raise $110 million to fund Farfetch’s plans, which include consolidating its position in China, the company’s second largest market, as well as Japan and other countries in the Asia-Pacific region.
Jose Neves, founder and chief executive of Farfetch, 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.”
