Coupang Finalizes Purchase of Troubled Farfetch

LONDON – Coupang said Wednesday it has completed the acquisition of Farfetch Holdings plc, a deal that was first announced on Dec. 18. Coupang said in a brief statement that by providing access to $500 million in capital, “will continue delivering exceptional services for its brand and boutique partners,” and to more than 4 million customers worldwide. The company added that by leveraging Coupang’s operational know-how and logistics, “Farfetch is now well-positioned to pursue steady and thoughtful growth.” Coupang, which purchased Farfetch alongside the San Francisco-based firm Greenoaks Capital, is a Fortune 200 company listed on the New York Stock Exchange. It has operations and support services in markets including South Korea, Taiwan, Singapore, China and India. It compares, albeit…

Source: WWD
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