The Neiman Marcus Group has decided to end its working partnership with Farfetch, WWD has learned. The move comes in the wake of Coupang’s purchase of Farfetch, completed last month. The London-based Farfetch had long struggled to turn a profit and was running out of cash amid rising interest rates and plummeting tech valuations. Coupang, based in … Read more
LONDON – Coupang said Wednesday it has completed the acquisition of Farfetch Holdings plc, a deal that was first announced on Dec. 18. Coupang said in a brief statement that by providing access to $500 million in capital, Farfetch “will continue delivering exceptional services for its brand and boutique partners,” and to more than 4 million … Read more
LONDON — A group of institutional investors is contesting the proposed purchase of Farfetch by Coupang, and plans to fight for the money it believes is owed to them by the fashion e-commerce platform, which filed for administration late last year. Bond holders in possession of more than half of Farfetch’s 3.75 percent convertible senior notes, … Read more
MILAN – Style Capital is eyeing the acquisition of New Guards Group, Roberta Benaglia, founder and chief executive officer of the Italian private equity firm, told WWD. Asked about potential M&A deals on the horizon and speaking ahead of the MSGM men’s fashion show in Milan, Benaglia was cautious about the outcome of the discussions, … Read more
LONDON — Matches, with its swanky Mayfair townhouse and VIP clients from around the world, has been sold at a knockdown price to Mike Ashley of Frasers Group in a moment of reckoning for European luxury e-commerce players. On Wednesday, Frasers revealed it had purchased 100 percent of Matches in a deal valued at 52 … Read more
José Neves was always astute as a dealmaker — making one fashion connection after another as he built Farfetch up from a Great Recession start-up to a luxury platform. Along the way, Neves, who leads the company as founder, chairman and chief executive officer, cut deals with Compagnie Financière Richemont, Alibaba, Neiman Marcus Group, the … Read more
