Coupang, a South Korean e-commerce company, has agreed to acquire troubled online luxury retailer Farfetch in a $500 million deal. This acquisition aims to tap into South Korea's luxury market and prevent Farfetch from bankruptcy. The deal also involves delisting Farfetch's shares and ending plans by Richemont. The rescue deal by Coupang and U.S. investment firm Greenoaks has been chosen over a rival offer from Apollo Global Management. The move reflects the changing landscape of luxury fashion, where digital exclusivity and utility are becoming increasingly important.
Third-party luxury websites such as Farfetch and Matchesfashion have fallen into deep distress as fashion houses invest in their own online sales platforms and shoppers flock to physical stores. Read it here in The Brink. https://t.co/ozivAH8Ses
Luxury fashion is entering a new digital era, where the value lies not just in materials, but in the digital exclusivity and utility of each piece.
$500 million deal for Coupang to acquire Farfetch will avoid bankruptcy and end Richemont plans. https://t.co/kQi3wnk1WJ #ecommerce #onlineretail #Acquisitions #retail
Troubled online luxury retailer Farfetch has agreed to a $500 million rescue by South Korea's Coupang and U.S. investment firm Greenoaks, rather than accept a rival offer from Apollo Global Management. https://t.co/GDwxgMgagU
Farfetch finds a backer in e-commerce company Coupang, which agrees to lend $500 million, buy the assets and delist the troubled fashion platform’s shares https://t.co/baCrKFTpCG via @technology @tmulier @gmorpurgo #Switzerland
Coupang to acquire Farfetch, eyes South Korea’s luxury market https://t.co/maLQxENyrC