Competitor Farfetch also announced that it has received Tencent capital injections
according to Foreign media reports , Moda Operandi, a high-end fashion e-commerce platform in the United States, recently announced that it has completed a new financing of US $ 100 million, including Equity and debt financing were led by NEA and Apax, followed by Comerica Bank and TriplePoint Capital. The funds will be used to invest in its platform and technology, and to continue to develop the business as a whole.
Moda Operandi was founded in 2010, CrunchBase information Show , it has received a total of 8 rounds of financing since its establishment, with a total funding of $ 393.7 million. The company’s latest valuation was not disclosed, but in its most recent round of F rounds completed in 2017, Moda Operandi was valued at $ 650 million. The leading investors of this round, NEA and Apax, are also old shareholders of Moda Operandi. Other old shareholders worthy of attention include Zheng Zhigang, Luxury group LVMH, etc. .
Moda Operandi’s main customer base is young women According to Forbes, the average age is less than 40 years, which is less than traditional luxury goods Buyer. The biggest competitiveness of this platform is,The designer’s entire fashion week collection is provided, and users can reserve all the designer’s seasonal works on Moda Operandi about one hour after the runway show. Moda Operandi Provides products from more than 1,000 brands and designers, and sells 125 Countries and regions.
E-commerce in the high-end fashion field is a clear trend in recent years. Although these consumers will still go to fashion weeks and buy in high-end shopping malls, websites, mobile apps and new social media channels such as Instagram It has become a key way to browse and purchase high-end fashion products, and has also brought rise to e-commerce platforms such as Farfetch and Net-a-Porter.
It is worth mentioning that According to the report of the Beijing News , Farfetch (NYSE: FTCH) also announced on January 30 , agreed to issue and sell convertible senior notes with a total principal amount of US $ 250 million through a placing, and sold them to Tencent and San Francisco-based investment company Dragoneer worth US $ 125 million each. Farfetch also received an investment of US $ 397 million from JD.com in 2017. JD.com became Farfetch’s largest shareholder and Liu Qiangdong joined Farfetch’s board of directors. At the same time, JD.com has incorporated Toplife, its own luxury e-commerce platform, into Farfetch, andThe first-level entrance opened for Farfetch on the JD app.
It can be seen that the competitive pressure that Moda Operandi faces is not small. The close connection with the fashion industry is also one of its advantages. The founders of Moda Operandi include a limited-time snap-up website. Gilt > Former CEO Aslaug Magnusdottir and Lauren Santo Domingo, editor-in-chief of Fashion Magazine in the United States, the company has been working since the establishment of the company. Alexander Wang and and Valentino and other big names have signed Cooperation.
For designers and brands, Moda Operandi allows them to show the full collection of the new season to more potential buyers, gain more exposure and increase revenue. In addition to high-end clothing, Moda Operandi has also expanded SKUs into the fields of jewelry, accessories and home decoration. Its latest business scale has not yet been exposed, and its revenue in 2017 reached $ 165 million, with an average customer price close to $ 1,300.
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Luxury e-commerce Moda Operandi receives Series F financing and joins the Chinese market scuffle