Condé Nast Pushes E-Commerce with $20M Farfetch Deal
Posted Tuesday March 5, 2013 12:10 PM GMT
With the e-commerce wave rising ever higher, Conde Nast is looking to get a bigger piece of the pie with an aggressive investment strategy.
The international publishing company just dropped $20 million on Farfetch.com to help the web retailer up the ante and expand to new levels.
Jonathan Newhouse explained, “Farfetch has a unique position, connecting boutiques around the world by e-commerce to sophisticated fashion customers like our magazine readers and website users. It’s a natural for Condé Nast.”
“As the leading multimedia publisher connecting people to the fashion brands they love, this investment underlines our commitment to extend the scope of our activities and back great entrepreneurs,” added Conde Nast honcho James Bilefield.
And Jose Neves of Farfetch concurred— “This investment will fuel our entry to new markets while assisting our growth in existing ones. Our goal to build a unique curated global franchise in online designer fashion is brought several steps closer through the exciting involvement of Condé Nast.”