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.
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.
While the campaign doesn’t yet feature products designed by Lee, the release signals Burberry is getting a complete creative overhaul under the stewardship of Yorkshire-born designer and new CEO Jonathan Akeroyd.
The outerwear giant’s London Fashion Week outing will also showcase new collaborations with Adidas, Alicia Keys and Pharrell Williams in a bid to broaden the initiative’s reach.
New York’s schedule is short on surprises as brands play it safe in an uncertain economy. Plus, what else to watch for this week.
This week, Ssense said it laid off 138 workers, and MatchesFashion received a $73 million cash injection from its shareholder. From more niche players to giants like Farfetch, the pressure remains high for luxury e-tailers.