Coupang's $500 Million Lifeline Rescues Farfetch

E-commerce company Coupang has agreed to lend $500 million to troubled fashion platform Farfetch, as well as buy its assets and delist its shares. The deal marks the end of a proposed tie-up between Farfetch and Swiss luxury group Richemont. Farfetch has been struggling, losing over 90% of its value since its listing five years ago, and has been burning through cash. Existing shareholders will be fully wiped out if the Coupang deal goes ahead.