Farfetch: the unicorn that is not a myth
Farfetch: the unicorn that is not a myth
The first unicorn start-up made in Portugal and the most international e-commerce platform linked to the fashion sector has been attracting new investors to this promising business. Temasek, IDG Capital Partners and Eurazeo have raised the capital of Farfetch by around 90 million euros.

The race for attracting investment from e-commerce platforms operating in the fashion industry has seen some noteworthy events. The most recent paradigmatic case is the investment by a trio of  backers who will be giving the Portuguese unicorn Farfetch more than110 million dollars for expanding its business network, according to the news released exclusively by the BoF – The Business of Fashion site.
Just in October 2015, Farfetch had closed a round of investment of approximately 76 million euros, as can be seen in this item in the Observador.

The global interest in the ascension of the revolutionary Portuguese online commerce project is clear to be seen. This time, two-thirds of the investment made is coming from the Asian market, given that Temasek is a holding headquartered in Singapore and IDG Capital Partners is headquartered in China. This fact is pointed out by the CEO of Farfetch, José Neves: "Asia represents 26% of all our sales. In other words, one in every four products we sell travels to this market”. Only the third investor – Eurazeo remains outside of this equation. Eurazeo is a group of European backers operating out of Paris.

About Farfetch

Farfetch was opened in 2008 in the north of Portugal, more precisely in Leça do Balio. It rapidly jumped across borders due to its exponential growth. Currently headquartered in London (although all the technology is still being developed in Portugal), Farfetch came about as a result of José Neves’ enterprising spirit. In only eight years of existence, it has earned around 305 million dollars in investments from the main business angels and venture capital investors in the world.

The concept and differentiating element in the business lie in the close partnership established with the most luxurious fashion boutiques in the world, currently with a network of over 300 multi-brand shops in around 180 countries. The shops provide the products (clothing or de luxe accessories) they want to sell on the online platform and it is up to the Farfetch team to organise the photographic sessions, catalogues and later sale and delivery of the products by famous designers (Alexander McQueen, Dolce & Gabbana, Isabel Marant, Stella McCartney and Marc Jacobs are just some of the names to be found on the site).

The first Portuguese unicorn start-up – term applied to start-ups whose market valuation exceeds one billion dollars – is still continuing with its expansion plan. It is expected that the current network of offices (London, Porto, Guimarães, Moscow, New York, Los Angeles, Tokyo, Hong Kong, Shanghai and São Paulo) will soon be extended.