Coupang, Inc. (NYSE: CPNG), a global retailer, announced plans to acquire the business and assets of Farfetch Holdings plc, a London, UK-based online luxury company.
This acquisition positions Coupang as a leader in the $400 billion global personal luxury goods segment.
Greenoaks, a global investment firm, brought substantial financial expertise to the transaction and is Coupang’s investment partner in this acquisition. The agreement gives Farfetch access to $500m of capital to continue providing exclusive brands and boutiques with technology and giving designers access to consumers around the globe.
Led by José Neves, Founder, CEO and Chairman, Farfetch is a global marketplace for the luxury fashion industry. The Farfetch Marketplace connects customers in over 190 countries and territories with items from more than 50 countries and over 1,400 of the world’s best brands, boutiques, and department stores, delivering a unique shopping experience and access to the most extensive selection of luxury on a global marketplace. Farfetch’s additional businesses include Browns and Stadium Goods, which offer luxury products to consumers, and New Guards Group, a center for the development of global fashion brands. Farfetch offers its broad range of consumer-facing channels and enterprise level solutions to the luxury industry under its Luxury New Retail initiative. The Luxury New Retail initiative also encompasses Farfetch Platform Solutions, which services enterprise clients with e-commerce and technology capabilities, and Future Retail, which develops innovations such as our Connected Retail solutions.
Led by Bom Kim, Founder & CEO, Coupang is one of the largest retailers in the world offering a variety of services, including same-day and dawn delivery of merchandise, delivery of prepared foods through Coupang Eats, fintech through Coupang Pay, and video streaming through Coupang Play. Coupang is headquartered in the United States, with operations and support services performed in markets including South Korea, Taiwan, Singapore, China, and India.
FinSMEs
18/12/2023