Farfetch is a global marketplace for the luxury fashion industry. Credit: Alpha Photo/ Flickr (Creative Commons).

South Korean e-commerce group Coupang has entered an agreement to purchase the business and assets of online luxury company Farfetch.

The strategic acquisition will strengthen Coupang’s position as a leader in the $400bn global luxury goods segment.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

It will also provide Farfetch with $500m of emergency capital to continue operations.

The Farfetch marketplace offers products from 1,400 brands, boutiques and department stores to customers in more than 190 countries and territories.

The retailer also owns luxury fashion suppliers Browns and Stadium Goods, and New Guards, a centre for developing global fashion brands.

Under its Luxury New Retail initiative, Farfetch provides a range of consumer-focused channels and enterprise-level solutions for the luxury fashion industry.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company will combine Farfetch’s presence in the luxury ecosystem with its operational and innovative logistics to optimise the experiences of customers, brands and boutiques across the globe.

Coupang founder and CEO Bom Kim stated: “Farfetch is a landmark of the luxury landscape and has been a transformative force in demonstrating that online luxury is the future of luxury retail.

“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. We also see tremendous opportunities to redefine the customer experience for luxury clients everywhere.”

Global investment firm Greenoaks assisted Coupang in the acquisition.

Farfetch founder, CEO and chairman José Neves stated: “We are thrilled to be partnering with such a respected Fortune 200 company that is committed to investing in innovations that transform all aspects of the customer experience with Farfetch.”

Farfetch saw its revenue drop by 1.3% to $572.1m in the second quarter of fiscal 2023.