London fashion retailer Farfetch raises over £75m in funding round

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Farfetch is a London-based luxury shopping platform (Source: Getty)

Online fashion retailer Farfetch has raised $110m (£75.6m) in its latest funding round to augment expansion plans in the Asia-Pacific region.

The London-based luxury shopping platform plans to use the funding to expand in China, Farfetch’s second largest market, Japan and other Asia-Pacific countries. China represents 12 per cent of the company’s sales with Asia-Pacific collectively representing a further 14 per cent.

The Series F funding was led by Singaporean investment firm Temasek, French investor Eurazeo, and IDG Capital Partners. Existing investor Vitruvian Partners also participated in the round.

Founded in 2008 by José Neves, Farfetch has raised over $305m in the last six years.

In March 2015, the retailer was valued at $1bn after raising $86m in a Series E round of investment, led by Yuri Milner’s investment group DST Global, with existing investors Condé Nast International and Vitruvian Partners also participating.

José Neves, founder and chief executive of Farfetch, said: “The vision for Farfetch was always to seamlessly integrate physical retail with digital platforms, which we have been doing since 2008, first starting with boutiques and 12 months ago adding brands to our global platform.

“This investment comes after strong inbound interest from investors, some of which we felt could really help Farfetch in our largest and fastest growing markets, or had exposure to marketplaces and luxury fashion."