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Farfetch Secures $500 Million Lifeline from Coupang in Rescue Deal

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Source: Quartz
Farfetch Secures $500 Million Lifeline from Coupang in Rescue Deal
Photo: Quartz
TL;DR

South Korean retail giant Coupang has stepped in to save struggling luxury online retailer Farfetch with a $500 million deal, rescuing the company from potential closure. However, this deal also ends Farfetch's planned tie-up with rival Yoox-Net-a-Porter. Farfetch, once valued at $23 billion, has faced challenges due to COVID-19 lockdowns in China and the Russian invasion of Ukraine, as well as a decline in growth. The acquisition by Coupang marks a significant turn of events for Farfetch, which had previously acquired Stadium Goods and New Guards Group for substantial amounts.

Topics:business#acquisition#business#coupang#farfetch#luxury-retail#yoox-net-a-porter
Share this article
  1. Online luxury retailer Farfetch gets a $500 million lifeline  Quartz
  2. Farfetch Gets $500 Million Lifeline From Coupang  The New York Times
  3. Farfetch rescue deal with Coupang means it isn't a seller  Axios
  4. M & A News: Farfetch (NYSE:FTCH) Plummets on Asset Deal with Coupang - TipRanks.com  TipRanks
  5. Meet Coupang, the Company Rescuing Farfetch – WWD  WWD

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