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South Korea’s Coupang to acquire online luxury retailer Farfetch – Financial Times

South Korea’s Coupang to acquire online luxury retailer Farfetch – Financial Times

South Korean ecommerce group Coupang has agreed to acquire Farfetch, providing a lifeline for the foundering luxury-focused online retailer that had been rushing to avoid insolvency.Investment group Greenoaks Capital Partners will also take part in the rescue deal that gives Farfetch a $500mn bridge loan to continue offering its services, according to a statement. “Farfetch will rededicate itself to providing the most elevated experience for the world’s most exclusive brands, while pursuing steady and thoughtful growth as a private company,” said Bom Kim, chief executive of Coupang. Coupang, which operates in food delivery, video streaming and online shopping in Japan, South Korea… 

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