South Korean e-commerce giant Coupang has acquired luxury fashion retailer Farfetch, providing it with $500 million in crucial financing to boost liquidity.
Concurrently, Farfetch has cancelled its plan to buy a 47.5 per cent stake in Yoox-Net-A-Porter and saw the resignation of all independent board members, leaving José Neves as the sole board member.South Korean e-commerce giant Coupang has acquired luxury fashion retailer Farfetch, providing it with $500 million in crucial financing to boost liquidity.
Concurrently, Farfetch has cancelled its plan to buy a 47.5 per cent stake in Yoox-Net-A-Porter and saw the resignation of all independent board members, leaving José Neves as the sole board member.
