Farfetch to Expand Menswear Internationally
Following the recent £56m investment by Russian entrepreneur Yuri Milner’s DST Global firm, luxury e-tailer Farfetch has announced plans for major expansion and an increased focus on menswear for fall 2015, including new international store partners in Japan and Australia, increased availability of same-day delivery, and the establishment of offices in new key markets including Germany, Korea and Spain.
With men’s currently at 30% of the company’s e-tail platform, founder José Neves sees increased potential in the menswear market. “We have a unique menswear proposition with fantastic boutiques and brands and we will look to grow this from the third quarter,” he explains.
Valued at $1bn by DST Global investment (who has also invested in Facebook, Twitter, Spotify and AirBnB, among others), the brand already has stores in major capitals like New York, London and Paris, and across Europe and North America including American Rag, Carson Street Clothiers, Mario’s, The Webster and H. Lorenzo.
“We have had an amazing journey so far, and it’s great to add DST to our already fantastic group of backers for the next stage of growth of Farfetch,” says Neves. “The challenge is now to keep innovating and focus on establishing a long-lasting global brand.”
