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THE WHAT? Having introduced that it was bowing out of magnificence in August, excluding its Violet Gray enterprise, Farfetch has backtracked and put the LA-based magnificence retailer up on the market.
THE DETAILS Based on a report printed by the Enterprise of Trend, Farfetch bought the luxurious purchasing vacation spot in January 2022 for US$50 million. The sale value has not been disclosed and a purchaser has but to be recognized.
THE WHY? Farfetch didn’t reply to a request for remark when approached by the Enterprise of Trend however the publication speculates that, when the acquisition failed to rework the style platform into a significant participant in magnificence, it determined to name time on the challenge.
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