Online luxury retailer Farfetch is in talks with Apollo Global Management to secure emergency funding for shoring up its finances, as per reports.
According to the report, Farfetch is in talks with other parties over obtaining fresh funding, and Apollo was merely one of the firms involved.
When Reuters asked Apollo Global and Farfetch for comments, they did not immediately reply. The reports stated there was no certainty that a deal would be completed and it was unknown if the new cash would be delivered as loan, stock, or a combination of the two.
Richemont, the owner of Cartier, and José Neves, the founder and CEO of Farfetch, reportedly had discussions to take the business private in November, according to the Telegraph.
Richemont, however, declared that it would not provide financial support to the luxury e-commerce site.
Founded in 2007, London-based Farfetch debuted on the New York Stock Exchange in September 2018 and has had a tumultuous time through its listing, as the company grappled with weakening demand in the US and China.
