Condé Nast Makes Its Biggest Investment

By: Bonnie Mendez A few months ago it was announced that Condé Nast, one of the world’s leading fashion media publishers was intending to invest in e-commerce sites Monoqi and Renesim, but today they made their biggest investment yet: $20 million to the e-commerce site Farfetch.com, a site in which you can shop for high end independent designers boutiques all around the world from Browns in London to Fivestory in NYC. The site has over 4.3 million visits per month, 150,000 customers in over 140 countries and $129 million in annual sales. Counting their biggest customer with $320,000 in spending for 280 orders of 51 sandals, 48 boots, 39 pairs of pumps. Farfetch is intending to expand its business to the US, Germany, Eastern Europe and Scandinavia, with plans to launch the site in different languages as well, including Japanese, Korean and Spanish. According to WWD the investment was made to help each other and share information. “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,” James Bilefield, President of Condé Nast International Digital.

Comments are off this post!