Cartier Owner Richemont Won’t Inject Cash Into Farfetch ...Middle East

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Cartier Owner Richemont Won’t Inject Cash Into Farfetch
source : canadian news today ( Middle East ) () 17
Farfetch founder Jose Neves is considering the move after a troubled New York Stock Exchange listing for the loss-making British company, and is working with advisers at JP Morgan, the Telegraph newspaper reported on Tuesday. The company, in which Neves has a stake of 15%, declined to comment to Reuters on Wednesday. Richemont, which has a deal in place to sell its Yoox Net-A-Porter fashion and accessories business to Farfetch said it was “carefully monitoring the situation.” It said it was reviewing its options around the deal, announced in August 2022, under which it will receive an initial 58.5 million Farfetch shares. “Richemont would like to remind its shareholders that it has no fina

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