European luxury product electricity nova: $1 billion into a unicorn Farfetch of the club

now, the focus of the global fashion industry is the high-end fashion products – Farfetch e-commerce company. Focus on service high-end fashion company headquartered in London electricity online mall successfully raised $86 million. Farfetch on the financing, with a $1 billion valuation into the “unicorn club”. In addition, so smoothly into another reason: this round of funding by DST Global led.

in this round of funding, Conde Nast and Vitruvian Partners in this column. So far, Farfetch financing obtained up to nearly $200 million.

Farfetch, founder and CEO Mr Neves said: “this round of funding will help Farfetch expand global business.”

Farfetch, founded in 2007, from its last year in Europe and the United States at the core of the market spread to China, Russia and Japan, the development of the region have strong spending power is right without consumption of consumers. The expansion is aimed at developing its market, and promote the market development as mature as Germany, South Korea, Spain, and provide a reference to exploit markets such as Latin America.

the company daily turnover of about $1 million, which means that each customer’s consumption amount is $600 to $700 (usually more than the total amount of the goods). We are not sure whether the company profit, but it can sure, Farfetch in the stage of investment growth, and growth is strong. In 2010, has been Farfetch Advent Venture Partners and Frederic Court in the first round of financing, its GMV every day (total commodities trading) only $25000.

founder of DST Global yuri milner, said: “the Farfetch has a strong team, momentum, and has a great potential of the fastest growing high-end fashion products to use e-commerce market.” DST investment mostly in Asia and the United States, Europe is very rare, but not unprecedented, because the company receives (payment providers of European electricity) is also on its investment.

Farfetch follow traditional market pattern, like India’s Snapdeal, namely: Farfetch itself does not sell goods, but to build a bridge that crosses from the selling fashion retailers and consumers.

Neves said: “now is no plans to sell their products, they will continue to serve as a” bridge “, meanwhile Farfetch also focus on smaller electric company, now the electricity is gradually expanding. Accordingly, Neves said: “our business cooperation with 20 stores, and large department stores, such as France’s Lafayette) cooperation. We have many large enterprises, there are also many boutiques. Now, we plan to expand enterprise attract tenants.”

Farfetch investors is therefore believed that Farfetch will not repeat other electricity enterprise. Court said: “we believe Farfetch with Gilt or Fab.com is very different from the electricity, the electricity to the main reason for the decline is the lack of management and the change is too big.”

large department enterprises to follow the pace of small businesses in Farfetch has its reason. Neves said: “I think a like Shopify e-commerce sites is very simple, but to build a successful e-commerce sites, it is not that easy.” He put forward, in part because big search engines such as Google, according to user preferences to provide advertising, promotion and Farfetch only mad push information. Another reason is the logistics problems. In the United States, many medium-sized enterprises difficult to freight to South America, but Farfetch have logistics advantage.

nowadays, Farfetch full 300 businesses and 450000 users, while Farfetch also expect the new capital is conducive to business extension.

as for the next step in the extension of business processes or secret state today. But as far as we know, if not eliminated by another electricity giant, Farfetch would consider an IPO in the next few years.

Source: TC

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