The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PARIS, France — French investment group Eurazeo said on Tuesday it had raised 90 million euros ($105.02 million at current exchange rates) through the sale of its stake in luxury fashion retailer Farfetch.
Eurazeo did not disclose the identity of the buyer of the shares, which it said it had sold in the market in recent days. Eurazeo, which has been an investor in Farfetch since 2016, could not be reached for further comment.
Shares of New York-listed Farfetch had jumped 16 percent on Monday on a media report that Alibaba Group Holding Ltd was in advanced talks to invest nearly $300 million in the company.
The two companies were also in talks to create a Chinese joint venture, tech news website The Information reported.
ADVERTISEMENT
It added that Swiss group Richemont, which has teamed up with Alibaba to create mobile applications, was also considering investing in Farfetch alongside the Chinese e-commerce giant.
By: Reuters staff; Editors: Keith Weir and Louise Heavens.
The futures of multi-brand luxury heavyweights Yoox Net-a-Porter and Neiman Marcus may be decided in the coming days.
Prices are up, quality is down and social media has made it plain for all to see, writes Eugene Rabkin.
The Swiss watch sector’s slide appears to be more pronounced than the wider luxury slowdown, but industry insiders and analysts urge perspective.
The LVMH-linked firm is betting its $545 million stake in the Italian shoemaker will yield the double-digit returns private equity typically seeks.