Farfetch just announced it has sold all of its business and assets to Coupang effective January 30, 2024. A group of Farfetch note holders promise to fight back.
South Korean e-commerce giant Coupang announced Tuesday it plans to buy the British luxury online platform Farfetch, in a bid to strengthen its competitiveness in the fashion and luxury industry. Coupang will inject $500 million into the London-based Farfetch to help its business stay afloat, the Korean e-commerce company said. In order to acquire Farfetch, Coupang has formed a limited partnership called Athena Topco.