When your e-commerce site's biggest sale to date rang up for nearly $35,000 and was a combination of products from 15 independent boutiques worldwide, you can give yourself a big pat on the back. Or, in the case of farfetch, you can find yourself one powerful backer. And with the name Condé Nast International needing little introduction, the newest investors to the wildly popular and luxe e-commerce site are expected to fit in like the perfect missing puzzle piece.
Making a $20 million investment in the five-year-old company, Condé Nast International will be supporting the site's goal to curate the best of independent, international boutiques and make them available to all customers in one place — a site where you can snag an Acne gem from Hamburg and Rachel Comey boots from L.A. all in one order.
"Farfetch has a unique position, connecting boutiques around the world by e-commerce to sophisticated fashion customers like our magazine readers and website users," says Jonathan Newhouse, chairman and chief executive of Condé Nast International. "It’s a natural for Condé Nast."
Like its latest investment, Condé Nast International's passport has seen plenty of action with 25 global markets that produce its publications. And as the company expands and meets media with commerce, farfetch will also continue to expand its global reach with the addition of new markets, according to farfetch founder and chief executive, José Neves — simply another step toward the ability to summon all the greatest boutiques on the globe without ever leaving your living room. (Press Release)
Photo: Courtesy of farfetch