Farfetch secures $4.5m from Advent Venture Partners

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Farfetch.com, an online fashion shopping site, has secured a $4.5 million investment from Advent Venture Partners.

Farfetch.com is a classic marketplace play which brings independent fashion boutiques from Europe and North America under one roof.

Launched in 2008, it’s had a lot of growth and sales have more than doubled in the last six months, compared to the previous half year. The money will go towards new hires, infrastructure, and increasing the number of retailers on the site.

The new hires include Susanne Tide-Frater who joins as Brand and Strategy Director. She is the former Creative Director at Harrods and Selfridges. Andrew Robb joins as Chief Operating Officer. Previously, he was Managing Director of membership-only online retailer Cocosa.

Frederic Court, general partner at Advent, is joining the farfetch board.

There is a run on ecommerce businesses in Europe right now with Balderton Capital leading an initial $9 million financing round in mywardrobe.com only this week.

The company originally started out on Commercial Road, in London’s Shoreditch area, made famous by Last.fm and other startups.

  • http://maxniederhofer.com Max Niederhofer

    Which explains Frederic’s comment in the last thread :)

    Farfetch looks like a cool concept. Making it easy for independent boutique owners to sell online is an interesting take.

  • buyer beware

    Adding a layer of costs is not making it easier for boutiques to sell online.

    • http://maxniederhofer.com Max Niederhofer

      So your alternative to using a paid marketplace to sell online is…?

  • buyer beware

    The people who shop for orignal fashion at small boutiques already know where to buy. They buy from exclusive, creative, niche businesses that are part vocation the ones I know, part business, not mass market, not scalable.

    Individual boutiques and their loyal customer base don’t gain from an aggregator in my view, although you’ll make the case for them since I would guess that is where you make money?

    If you want to make money from selling original, creative, small scale, niche fashion, why not produce and run an actual original shop of your own, if you are interested in fashion, creativity, individuality, originality?

  • http://www.peerindex.net Azeem

    A bull run on e-commerce. There is also Empora kicking around. And ModCloth. And umpteen secret sale type things.

    I don’t buy Farfetch (sorry Frederci!) Looks like a Net-a-porter clone. The brands on their are massive and expensive (balenciaga, anyone) and hardly independent designers. My cursory glance says that most of these designers are available in a stroll through Selfridges.

    Doesn’t mean it isn’t a good investment (from an LP standpoint). Net-a-porter did well.

    But it does mean another $4.5m has been sucked out of the innovation ecosystem in the UK, to support online retail :(

  • http://www.qype.co.uk Andrew Hunter

    I really like Farfetch. A competitive space to be entering, but having met the founders i have no doubt they will shake things up.

    Congrats to Advent and FF!

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