Find in the news:
BY COUNTRY

Coupang to acquire the business and assets of Farfetch holdings



Coupang will provide $500 million to Farfetch, which has recently faced significant financial challenges.
Снимок экрана 2023-12-19 в 12.49.08.jpg

South Korean online retailer Coupang has announced the acquisition of assets from the British luxury-focused platform Farfetch. Coupang will provide $500 million to Farfetch, which has recently faced significant financial challenges. Following the completion of the deal, Farfetch will become a private company.

“Farfetch is a landmark of the luxury landscape and has been a transformative force in demonstrating that online luxury is the future of luxury retail,” said Bom Kim, Founder & CEO of Coupang. “Farfetch will rededicate itself to providing the most elevated experience for the world’s most exclusive brands, while pursuing steady and thoughtful growth as a private company. We also see tremendous opportunities to redefine the customer experience for luxury clients everywhere.”

Deep experience in revolutionizing commerce

“Coupang’s proven track record and deep experience in revolutionizing commerce will enable us to deliver exceptional service for our brand and boutique partners, as well as for our millions of customers around the world,” said José Neves, Farfetch Founder, CEO and Chairman. “We are thrilled to be partnering with such a respected Fortune 200 company that is committed to investing in innovations that transform all aspects of the customer experience with Farfetch.”

Farfetch's valuation has plummeted by over 95% since its initial public offering (IPO) five years ago, reaching its peak success with a $24 billion valuation. In recent times, Farfetch has accumulated debts and teetered on the brink of bankruptcy. In late November, the company announced its decision not to release financial reports for the third quarter. Media reports suggested that Farfetch could be acquired by the founder of the retailer, Jose Neves.

On December 18, Farfetch's stocks fell nearly 40% in over-the-counter trading, leading to the suspension of trading by the New York Stock Exchange. Coupang's stocks also decreased by 3.5% following the announcement of the deal.

More about shopping malls in South Korea



Dec 25, 2023, United Kingdom:
Nestled in the historic heart of London and renowned for its Georgian-era architectural splendor.
Dec 25, 2023, USA:
The company emphasized that cost-cutting is a pivotal focus for its future endeavors.
Dec 22, 2023, United Kingdom:
The sports giant has joined a long list of international brands that will open their store doors at Trinity Leeds shopping center.
Dec 22, 2023, Austria:
The brand will present at iconic locations such as Cortina d'Ampezzo in Italy, Zermatt in Switzerland, and Hochzillertal-Kaltenbach in Austria.
Dec 21, 2023, USA:
Italian fashion house has sealed a deal to acquire the building housing its flagship store.
Dec 21, 2023, Mexico:
Luxury French fashion house Zadig & Voltaire has unveiled its boutique in Mexico City.
Friend
and Follow
Mall of Qatar GLA:1 743 753 SF
Qatar . Doha
Mall of Qatar
Charlotte Premium Outlets GLA:400 000 SF
ADDRESS: 5404 New Fashion Way Suite 100, Charlotte, NC 28278
USA . Charlotte
Charlotte Premium Outlets
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us