What: Farfetch managed to get a $500m emergency financing.

Why it is important: Technically, Farfetch is now the property of a Korean online player specialized on discounted goods. Let’s see where this goes.

Coupang, Inc., a major global retailer, has announced its intention to acquire Farfetch Holdings plc, an eminent online luxury company. This move positions Coupang as a significant player in the $400 billion global personal luxury goods market. The acquisition synergizes Coupang's operational and logistics excellence with Farfetch's luxury ecosystem, aiming to enhance customer and brand experiences worldwide. It particularly targets South Korea's luxury goods segment, where per capita spending is notably high. The deal provides Farfetch with $500 million in capital to continue supporting luxury brands and boutiques with advanced technology and global consumer access. Both companies anticipate this partnership will redefine the luxury customer experience globally, with Coupang's track record in commerce innovation playing a key role. Greenoaks, a global investment firm, has provided substantial financial expertise for the acquisition as Coupang’s investment partner.

Coupang saves Farfetch