Coupang s Leap: Rocket Delivery And Farfetch Deal Fuel E-Commerce Surge (NYSE:CPNG) seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.
In December last year, South Korean e-commerce giant Coupang made a surprise announcement that it was buying Farfetch, the British luxury shopping platform, in a $500 million deal. The highly-publicized acquisition seemed like a win-win for both: Coupang’s global expansion could be accelerated, backed by Farfetch’s extensive business network, while cash-strapped Farfetch could streamline its operations to.
U.K.-based Farfetch Holdings is to be acquired by South Korean Coupang Inc. in a deal that will give Farfetch access to $500 million of emergency capital.
U.K.-based Farfetch Holdings is to be acquired by South Korean Coupang Inc. in a deal that will give Farfetch access to $500 million of emergency capital.