Days after speculation began circulating surrounding the potential delisting of Farfetch on the New York Stock Exchange, additional reports have now alluded to a further heightening of the luxury e-commerce company’s financial pressures as it is understood to have begun the search for fresh funding in order to keep afloat.
According to sources for the Business of Fashion, the e-tailer is searching out a deal with existing partners as one of the ways it intends to acquire revenue. Farfetch has declined to comment on the topic.
Farfetch may also be reconsidering its acquisition strategy, with the media source reporting that the company was considering selling Off-White operator New Guards Group (NGG), which it had purchased for US $ 675 million in 2019.
It comes as its previously announced agreement with Richemont to acquire a near-majority share in Yoox Net-A-Porter (YNAP) appeared to be stalled, with the luxury behemoth confirming that, upon learning of Farfetch’s delisting plans, it “does not envisage lending or investing” in the company.
