Eurazeo contributes $20m in series-F funding for Farfetch

The series-F round included Vitruvian Partners, which had already contributed to previous rounds, and new shareholders Eurazeo, IDG Capital Partners and Temasek Holdings.

Eurazeo led this round, contributing $20m to the total $110m through its Eurazeo Croissance fund. The GP pursues its wave of investment in luxury goods started in 2011, with previous forays in the sector including Monclair, Desigual and Vestiaire Collective.

Yann-Herve du Rusquec, executive director of Eurazeo Croissance, said the firm would look to further solidify links between the luxury goods market and digital media.

Farfetch, which according to market sources was valued at $1.5bn for the deal, has raised an overall $304.5m to date, having completed six rounds of funding since 2010 that have involved 12 different investors.

This time, the luxury goods platform will use the capital to grow its portfolio of brands and further finance development projects, focusing mainly on international growth and omni-channel retail.

According to Eurazeo, the Asia-Pacific zone already accounts for 26% of the company's revenue, with China alone generating around 12%. Farfetch is looking to consolidate its position in the region, a strategy highlighted by the support of local investors Temasek and IDG Capital. 

Previous funding
Farfetch had already completed five rounds of funding prior to this series-F, its leading investors being successively Advent Venture Partners for rounds A ($4.5m) and B ($18m), Conde Nast for round C ($18m), Vitruvian Partners for the series-D ($66m) and DST for the series-E ($86m).

In 2015, Farfetch expanded by acquiring Browns, an independent fashion boutique and international website based in London, for an undisclosed amount.

Company
Farfetch was founded in 2008 by Portuguese entrepreneur Jose Neves. It is available in nine languages across 190 countries. Fartech's total transaction value for 2015 was $500m, up 70% from the previous year. The business is said to take a 25% commission from its partners, putting its estimated turnover for 2015 at $125m.

The online platform offers the possibility to buy luxury goods and beauty products from around 400 independent designer boutiques and global brands from 37 different nationalities.

Brands sold on the website include Browns in London, L'Eclaireur in Paris and H Lorenzo in the US.

People
Eurazeo - Virginie Morgin (deputy CEO); Yann-Herve du Rusquec (executive director Eurazeo Croissance).  

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