Luxury giant #Farfetch has sold to South Korean e-commerce giant #Coupang ‼️ This will allow Farfetch to avoid bankruptcy after a slowing luxury market, M&A missteps and high cost of debt, causing ripple effects for partnering brands 👀 $500 million will be grated in emergency funding 💰 For a better understanding, in 2018 Farfetch was at one stage valued at $23 billion. Most recently Farfetch had a market value of just $254.2 million 😳 Do y’all buy luxury online or in store ⁉️ - #Luxury #LuxuryBrands #FashionNews #Hypebeast #Designer #DesignerBrands