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.
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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.
After preserving his fashion empire’s independence for decades, the 89 year-old designer is taking a more open stance to M&A.
The sharp fall in the yen, combined with a number of premium brands not adjusting their prices to reflect the change, has created a rare opportunity to grab luxe goods at a discount.
Fashion’s presence at Milan Design Week grew even bigger this year. Savvy activations by brands including Hermès, Gucci, Bottega Veneta, Loewe and Prada showed how Salone has become a ‘critical petri dish for dalliances between design and fashion,’ Dan Thawley reports.
The Hood By Air co-founder’s ready-to-wear capsule for the Paris-based perfume and fashion house will be timed to coincide with the Met Gala in New York.