Falling apart at the seams: Why fashion darling Farfetch's value plummeted by $2bn
Daily Telegraph
26 August 2019
Almost a year ago Farfetch’s 20-strong top team posed happily outside the New York Stock Exchange on Wall Street. Later that Friday they shared photos and videos on social media, including its co-chairman and fashion guru Natalie Massenet, with the hashtag “fashiongoespublic”.
The London tech darling had raised $885m (£722m) from investors at a staggering $6.2bn valuation. That’s quite a feat for a company that has been loss-making since it was founded by Portuguese-born entrepreneur José Neves in 2008.
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