#FAANGBAND ACQUIRING NEW SPECIALTIES FULL#

Adds portfolio of exciting brands to the Farfetch Marketplace and expands existing portfolio brands’ reach.

#FAANGBAND ACQUIRING NEW SPECIALTIES FULL#

Equipped with this full suite of services and capabilities, Farfetch will directly support new creative talent to unlock their vision and potential, deliver superior distribution and ensure consumers are served with the best new designer labels, to enable the “Brands of the Future”. With this Acquisition, Farfetch will be able to further leverage its existing capabilities – its global consumer base, superior data insights and expansive boutique network – in combination with New Guards’ expertise in supporting designers with services including strategy development, sourcing and production, merchandising, licensing, marketing and growth planning. The Acquisition adds a “Brand Platform” layer to the Farfetch platform and extends the Company’s proposition upstream by expanding its capabilities to now include design, production and brand development.

“Brand Platform” extends Farfetch’s capabilities and reach across the luxury fashion ecosystem.

The Board of Farfetch believes that the transaction will create significant value for Farfetch shareholders, and deliver meaningful benefits to consumers, designers, retailers and manufacturers within the luxury fashion ecosystem and, ultimately, enable the “Brands of the Future”. The Acquisition underscores Farfetch’s commitment to making strategic investments in assets that enhance and accelerate its existing strategy. New Guards provides the resources and expertise to transform early stage brands into profitable, high growth businesses, driving rapid, profitable growth for New Guards itself.

New Guards is a brand platform that has launched several global luxury fashion brands, with a proven track record of identifying and nurturing some of the most culturally relevant emerging brands, designers and creative directors in the sector. The acquisition of New Guards augments Farfetch’s strategy to be the global technology platform for luxury fashion, empowering individuality, and connecting creators, curators and consumers. The consideration payable by Farfetch will be split equally between cash and Farfetch shares, with the exact amounts to be determined at completion following customary adjustments.Įxtends Capabilities as the Leading Global Technology Platform for the Luxury Fashion Industry

LONDON & MILAN-( BUSINESS WIRE)-Farfetch Limited (“Farfetch”, “the Company”) (NYSE: FTCH), the leading global technology platform for the luxury fashion industry, and New Guards Group (“New Guards”), a brand platform for luxury brands’ design, production and distribution, today announced that they have entered into an agreement for Farfetch to purchase 100% of the shares of New Guards for a Total Enterprise Value of $675 1 million (the “Acquisition”).

Faangband acquiring new specialties