The Modist secures strategic investment from Farfetch and Nicola Bulgari
Luxury modest e-commerce retailer The Modist has confirmed strategic investments from Farfetch, the leading global technology platform for the luxury fashion industry, as well as the private equity vehicle for Nicola Bulgari, Vice Chairman of Bulgari Group.
Last September, the online platform announced the partnership with Farfetch as a direct retailer on the Marketplace platform and, in June 2018, The Modist received a $15m cash injection from investment company Vaultier7 to help consolidating its position in the fast-growing modest fashion space and expanding into new markets as well as forming new brand partnerships.
Both these new investments solidify The Modist’s position as the preeminent global luxury ecommerce player leading the modest fashion space. The retailer offers modest dressers a destination that caters to their fashion needs whilst championing and celebrating the core brand values of diversity, inclusion and empowered choice.
Ghizlan Guenez, Founder and CEO of The Modist, said: “We are delighted to welcome Farfetch, an invaluable player in the world of luxury and innovative technology and look forward to continuing our journey of growth with their support and expertise.
“Equally, Mr. 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”.
Speaking about the investment, Farfetch Founder, CEO and Co-Chairman José Neves, said: “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.”
For Bulgari, this latest investment from their private equity fund reflects their expertise as pioneers in the global luxury retail and lifestyle space.
“We are very pleased to be part of The Modist, which is driving a niche, yet visionary expansion of luxury brands in the burgeoning world of e-commerce,” said Nicola Bulgari.