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.