The Modist gets investment from Farfetch and Nicola Bulgari
today Mar 25, 2019
Luxury modest e-tailer The Modist said Monday that it has received strategic investments from Farfetch and Annabel Investment Holding, the private equity vehicle of Nicola Bulgari, who is Vice-Chairman of luxury jeweller Bulgari Group.
The company said “both investments solidify The Modist’s position as the pre-eminent global luxury e-commerce player leading the modest fashion space.”
The business has had a close relationship with Farfetch since last year when the two partnered on a deal that made The Modist’s offer available globally via the Farfetch platform.
While the company didn’t say so, we have to assume that the results of that partnership were strong enough to make Farfetch think that this was a strong investment prospect with potential for future growth.
Modist founder and CEO Ghizlan Guenez said the company would be “continuing our journey of growth with [Farfetch’s] support and expertise.” And she added that “Nicola Bulgari values excellence in the needs of the evolving luxury consumer and we are thrilled to have his guidance and vast experience, thereby reaffirming our positioning in the rapidly evolving luxury modest fashion space.”
“Ghizlan and the team have built an incredible business and it’s great to be a part of supporting the next phase of the company’s growth,” said José Neves, Farfetch Founder, CEO and Co-Chairman.
The investments were secured ahead of The Modist’s Series B funding round and complete the strategic round that included Vaultier7 and Chalhoub Group.
The Modist was founded only two years ago but now ships to over 120 countries globally and retails over 180 designer and contemporary brands, including its own brand Layeur.
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