Luxury online apparel and accessories marketplace Farfetch has taken over the Style.com domain name from publisher Conde Nast.
The move comes just nine months after Conde Nast began selling through the website. During its brief run, Style.com sold an assortment of men’s and women’s apparel as well as skincare and candles. According to some reports, Conde Nast had invested $100 million in the venture.
Farfetch and Conde Nast say they will now collaborate, with Style.com redirecting to Farfetch’s flagship website and Conde Nast continuing to provide editorial content for the site.
“This global partnership with Condé Nast will significantly augment the retail experience for our customers, and we see it as a natural step in Farfetch’s approach to commerce and our strategic vision to connect those who create fashion, curate fashion and develop content,” says Farfetch founder and CEO Jose Neves. “Farfetch’s DNA is about partnering with those who are the best in their fields, and Condé Nast is one of the world’s best content providers.”
The two companies have a history, as Condé Nast was the lead investor in Farfetch’s $20 million Series C funding round in March 2013, according to CrunchBase,
“As an early investor in Farfetch, this partnership is the next step in our evolving business relationship,” Conde Nast International CEO Jonathan Newhouse said. “It further unites two leaders in their respective sectors, combining best-in-class content with the world’s leading online luxury shopping destination.
Farfetch, No. 91 in the 2016 Europe 500, has raised $304.5 million over six rounds of funding since launching in 2008, including a $110 million Series F funding around last May. According to Top500Guide.com, the retailer did an Internet Retailer-estimated $330.6 million in online sales in 2015, up 12.0% from $295.2 million the previous year.Favorite