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Farfetch Ltd Posts Qtrly Revenue of $255.5 Million
Farfetch Says Is Not Acquiring Barneys New York
Farfetch Ltd Qtrly Revenue $209 Mln
Farfetch Limited is a technology platform for the global luxury fashion industry. The Company operates the global luxury digital marketplace at scale, connecting brands, retailers and consumers. Its platform consists of three components, such as applications, services and data. It provides the consumers with a localized luxury experience, including after-care in the form of multilingual customer service and free returns processing. The Company’s data science capability automates decision making through the application of machine learning to guide merchandizing, targeting, curation and feedback. It also offers supply chain capabilities to its platform partners, from content creation to its global fulfillment network, which integrates delivery partners from around the world in a single, efficient interface. The Company’s platform is accessible through its Website (Fartech.com) and through iOS and android application.
The Bower, 4th Floor, 211 Old Street
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Malaysia's sovereign wealth fund Khazanah Nasional Bhd has sold stakes worth 5.66 billion ringgit ($1.36 billion) in seven foreign firms including Alibaba Group Holding Ltd in the first 16 months of the current government, a minister said.
Malaysian sovereign wealth fund Khazanah Nasional Bhd [KHAZA.UL] wants to quadruple its foreign investments to 60%-70% of its total portfolio over the next decade and beyond to reduce exposure to domestic risks, according to a parliamentary report.
Yahoo Japan Corp <4689.T> said it will take over Japan's biggest online fashion retailer Zozo Inc <3092.T> for 400 billion yen ($3.7 billion), seeking to breathe fresh life into the business and compete better against the likes of Amazon.com <AMZN.O>.
China's second-largest e-commerce firm JD.com Inc has appointed Jason Hu, a former managing director at Chinese private equity firm CDH Investments, as head of strategic investment to oversee deals both at home and overseas.
China's second-largest e-commerce firm JD.com Inc has hired Jason Hu, a former managing director at Chinese private equity firm CDH Investments, as head of strategic investment to oversee deals both at home and overseas, three sources said.
Barneys New York Inc filed for bankruptcy protection on Tuesday and put itself up for sale, pushed to the brink by falling revenue and soaring rent at its stores that caused many vendors to effectively stop shipping merchandise to the luxury department store chain.
Kering, owner of brands including Gucci, will tighten its grip on its e-commerce operations, focusing on its own branded sites to sell its luxury products or ventures where it can control its image and client data.
* Sales of 1.16 bln euros in 2018, adj EBITDA margin of -4.3%
Chinese e-commerce company JD.com is folding its high-end Toplife venture into fashion retailer Farfetch's business in China, hoping to expand in the luxury goods market where it is vying with Alibaba to attract shoppers.
U.S. online luxury reseller The RealReal Inc is talking to investment banks about the possibility of an initial public offering (IPO) later this year, people familiar with the matter said on Friday.
The founder and CEO of Portuguese start-up Science4You said demand for the company's share offering, which closes on Friday, was going well and he remains confident despite two local companies recently abandoning listing plans due to jittery markets.
Kering said on Monday it would develop its own online shopping sites by 2020, ending an outsourcing joint-venture for brands like Balenciaga, showing how major luxury companies are speeding up e-commerce plans.
OutSystems, one of Portugal's biggest technology start-ups, is confident of retaining its leading position in the fast-growing market for applications built with minimal coding after receiving $360 million in funding this year, its CEO said.
Cartier-owner Richemont is teaming up with Alibaba to try to crack China's online shopping market, potentially a major growth driver for luxury firms but which has proven difficult to tackle for outsiders going it alone.
Westwing, the "home and living" company backed by Germany's Rocket Internet, is expected to price its initial public offering in the upper half of its indicative price range, one of the bookrunners organizing the flotation said on Friday.
Westwing, the "home and living" company backed by Germany's Rocket Internet <RKET.DE>, said on Thursday it had set the price range for its planned initial public offering at 23 to 29 euros per share.
Farfetch <FTCH.N> priced its shares above its targeted range on Friday in a New York flotation that values the online luxury retailer at over $5.8 billion (4.44 billion pounds) and underscores how big a bet web sales have become for high-end brands.
Farfetch priced its shares above its targeted range on Friday in a New York flotation that values the online luxury retailer at over $5.8 billion and underscores how big a bet web sales have become for high-end brands.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.