technology news Beijing time on March 4th morning news, the London independent boutique online market Farfetch has acquired a new $20 million round of financing, this round of financing by issuing fashion giant Conde Nast lead investor, after the company’s investor Index Ventures and Advent Venture Partners for the senate.
since 2013, Conde Nast conducted a massive investment in the online fashion market in Europe, the investment in Farfetch Conde Nast third such investments. Prior to Conde Nast German company has announced the investment of online jewelers ReneSim and online designer store Monoqi.
Conde Nast did not disclose the total amount of investment after two. U.S. technology blog TechCrunch believes that the two investment is far less than the amount of investment in Farfetch. Investment in Farfetch is the largest Conde Nast investment in the United States abroad, while Farfetch has begun to focus on the global market, including Europe, Asia and the United states.
Farfetch previously received $44 million investment, while last year’s financing amounted to $18 million. Farfetch round of financing is expected to be officially announced on Monday, there is news that this is the company’s C round of financing. It is unclear Farfetch valuation in this round of financing.
recent investment shows that Conde Nast has not been satisfied as a content portal, and try to go further in the field of fashion electricity supplier. Conde Nast currently has "Vogue", "Glamour", "GQ" and "WWD" and other fashion magazines, focusing on providing the latest fashion information to global readers, as well as consumer shopping guide.
from this point of view, to participate in the actual electricity supplier business will help Conde Nast to complete the last part of the business chain. In addition to advertising and charges, the electricity supplier will also become another important source of revenue Conde Nast. By participating in the electricity supplier business, Conde Nast can better compete with rivals such as Fancy and Lyst.
so far, Farfetch’s main business is the construction of online markets and platforms for independent boutiques. Currently on the Farfetch platform has about 250 boutiques. Farfetch itself does not sell goods, but more similar to the aggregation tool and service providers, providing sales and payment platform to bring traffic to small boutiques, while providing packaging and logistics services. Such a business model similar to eBay and amazon.
TechCrunch estimates that the current annual revenue of about Farfetch 1>