On February 15, José Neves, founder and CEO of luxury e-commerce platform Farfetch, reportedly stepped down from his position.
Tag: Farfetch
Last December, the news that the South Korean e-commerce giant Coupang had acquired the ailing luxury e-commerce platform Farfetch, rescuing it from the brink of bankruptcy, was still fresh in the minds of many. However, the acquisition plan seems to have hit a snag.
On December 18, luxury e-commerce platform Farfetch, which was on the verge of bankruptcy, was reportedly being acquired by South Korean e-commerce giant Coupang for $500 million.
Last April, luxury marketplace Farfetch made a splash with its entry into the beauty sector. However, the company has recently been facing difficulties in running its beauty division, and industry insiders are reporting that Farfetch’s beauty division may be shutting down.
Since the pandemic, consumers’ expectations of physical stores have changed dramatically. In recent years, it is no exaggeration to say that having the right technology tools in stores is an “indispensable prerequisite” for improving the convenience of stores.