Farfetchs existing investors Condé Nast International and Vitruvian Partners also participated in the round, itnewsonline.com reports. This new investment, which values the company at USD 1 billion, allows Farfetch to continue its growth, focusing on international expansion and omni-channel propositions.
The funding will be used specifically to focus on international expansion with new local language websites, including German, Korean and Spanish. The company also focuses on opening new offices in key global markets, such as Japan and Australia, to offer the supply side of the marketplace.
It will also fuel the companys omni-channel growth and customer propositions including launching same-day delivery in multiple global markets and the continued development of VIP and loyalty programs for Farfetch customers in 180 countries.
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