French Investor Eurazeo SA Sells Farfetch Stake

PARIS, FRANCE — In March 2019, D.M. Fashion Book reported that Eurazeo SA has sold its remaining stake in Moncler, worth about 4.8 percent of the fashion brand’s capital, after an eight-year investment in the company. The French investment group has sold its entire stake in the Italian luxury label for around €445 million ($505 million) see it here.

As of yesterday, November 3, 2020, Eurazeo said it had raised 90 million euros ($105.02 million at current exchange rates) through the sale of its stake in luxury fashion retailer Farfetch.

Eurazeo did not disclose the identity of the buyer of the shares, which it said it had sold in the market in recent days. Eurazeo had been an investor in Farfetch since 2016.

Shares of New York-listed Farfetch had jumped 16 percent on Monday on a media report that Alibaba Group Holding Ltd was in advanced talks to invest nearly $300 million in the company.

The two companies were also in talks to create a Chinese joint venture, tech news website The Information reported.

It added that Swiss group Richemont, which has teamed up with Alibaba to create mobile applications, was also considering investing in Farfetch alongside the Chinese e-commerce giant.

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