From the beginning, José Neves was determined to have a global business. The idea: to give independent, high-end bricks-and-mortar boutiques the opportunity to compete with major players in online retail - and for its customers to access the world’s best designer boutiques.
Farfetch, founded by Neves in 2008, started with 25 boutique partners in five countries. Today, it works with more than 300 boutiques shipping to more than 450,000 customers in over 180 countries. The average order value for each customer is approximately $700.
Investors have piled in. To date, Farfetch has raised $195m in financial backing. Its most recent $86 million round catapulted it into the unicorn club by valuing it at $1bn. And that round was led by DST Global, Yuri Milner’s VC firm that has invested in the likes of Facebook, Twitter, Xiaomi and Alibaba. The money is earmarked for growth-expansion into new markets and new offices and also by adding value-added services. It has also recently bought fashion boutique Browns to operate it as a retail tech incubator.
Farfetch features in:
- Tech Tour 50
- Future Fifty
- CB Insights research
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