Farfetch, the online retail destination peddling contemporary and high-end wares from international boutiques, just got a huge cash injection – an $86 million dollar one.
Thanks to the money the e-tailer managed to raise from a smattering of investors including Condé Nast, Farfetch has become a “unicorn,” aka a privately-owned startup worth a billion dollars. Included in the league of unicorns are companies like Air BnB, Uber, Spotify and Pinterest – all of which analysts predict could be poised for public offerings, due to the enormous value of their companies. Farfetch is one of the few fashion-related unicorns out there today.
According to Business of Fashion, Farfetch will be using the money to help grow international versions of its website, as well as new office locations.
[via Business of Fashion]