Coupang shutters Farfetch white label unit after $105M loss
Farfetch closes its white label unit as parent company Coupang shifts focus amid mounting losses and a global luxury market slowdown driven by China’s economic challenges.
After weeks of scrambling to avoid a wipeout amid revenue drops and dwindling global luxury purchases, Farfetch narrowly avoided bankruptcy last year by being sold to the South Korean giant Coupang. Image: Shutterstock
After weeks of scrambling to avoid a wipeout amid revenue drops and dwindling global luxury purchases, Farfetch narrowly avoided bankruptcy last year by being sold to the South Korean giant Coupang. Image: Shutterstock