Coupang Injects $500 Million to Rescue Troubled Farfetch
Originally Published 2 years ago — by WWD
South Korean e-commerce company Coupang has agreed to inject $500 million in emergency funding into luxury fashion platform Farfetch as part of a "pre-pack" administration process. The funding will allow Farfetch to continue providing exclusive brands and boutiques with cutting-edge technology and global access to consumers. Coupang, listed on the New York Stock Exchange, has operations in several Asian markets and aims to expand into fashion and luxury goods services. As part of the deal, Farfetch will be taken private and its shareholders' investments will be wiped out. The fate of Farfetch's assets, including Browns and New Guards Group, remains uncertain.