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French Investor Eurazeo Sells Farfetch Stake

Eurazeo, which has been an investor in the luxury retailer since 2016, raised 90 million euros through the sale.
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By
  • Reuters

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.

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