Coupang Will Soon Discover Farfetch's Luxury Marketplace Is A Loser
Coupang(CPNG) Forbes·2023-12-30 18:04
Close up female arm sending message on the phone while wearing contemporary watch and ringsgettyFarfetch Holdings, the online luxury marketplace and technology platform, reached the precipice of insolvency in the third quarter. A last-minute $500 million bridge loan from the $21 billion South Korea’s Coupang gave the company a lifeline. Currently, Farfetch has a market value of $258.4 million.Since going public in 2018, Farfetch has proven to be a black hole undone by grand ambitions without the discipline ...