Advent invests $4.5 million in farfetch

Online fashion retailer has secured $4.5 million (£3 million) from Advent Venture Partners.

London-based was founded in 2008 by entrepreneur José Neves. The site sells designer fashion items sourced from shops across North America and Europe. Neves also created b Store, which won ‘Retailer of the Year’ at the 2006 British Fashion Awards, as well as founding the fashion footwear company SIX London.

Frederic Court, general partner at Advent, says: ‘Following an extensive review of the market, we decided to back which hit all our investment criteria: proven entrepreneurial team, fast-growing revenue, highly differentiated positioning and a strong ability to scale with limited capital requirements.’

Under the terms of the deal Court will join the board. The company has also appointed former Selfridges and Harrods creative director Susanne Tide-Frater as brand and strategy director, and former MD of online retailer Cocosa Andrew Robb as CEO.

The new investment will be used to continue expanding the company’s operations in Europe, North America and Brazil.

Nick Britton

Lexus Ernser

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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