European authorities have approved online luxury retailer Farfetch's purchase of a stake in rival Yoox Net-A-Porter from Richemont in the last regulatory...
FILE PHOTO: FILE PHOTO: A banner to celebrate the IPO of online fashion house Farfetch is displayed on the facade of the of the NYSE in New YorkZURICH - European authorities have approved online luxury retailer Farfetch's purchase of a stake in rival Yoox Net-A-Porter from Richemont in the last regulatory approval needed, the owner of Cartier said on Monday.
But the deal has been complicated by financial struggles at Farfetch, which has come under pressure as U.S. retailers slash orders and more inventory comes from brands rather than wholesale clients, limiting its ability to draw in shoppers with promotions. Farfetch shares have lost more than 90% of their value in the past two years, with its market capitalisation plunging from $26 billion to just over $1 billion.
Elon Musk acted like a 'little baby' and was 'almost in tears' on Tesla's 'terrible' earnings call, analyst says
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European Banks’ Bumper Profits Overshadowed by Global TensionsBank profits in Europe likely reached their highest point since the financial crisis this year, climbing in lockstep with interest rates. As the economic outlook darkens amid unfolding geopolitical crises, the focus this earnings season could now turn to margin pressure and signs of souring loans.
Read more »
European rallies urge end to antisemitism as pro-Palestinian demonstrations continue worldwideThe war between Israel and Hamas has raised tensions worldwide, leaving Jewish and Muslim communities feeling under threat
Read more »
Bublik beats French teenager Fils in European Open final for third career titleThird-seeded Alexander Bublik of Kazakhstan won his third career title by beating French teenager Arthur Fils 6-4, 6-4 in the European Open final on Sunday.
Read more »
Gas Deals Beyond 2050 Show Reality Gap on Europe Climate Goals(Bloomberg) -- Two days after the European Union declared it will push for a global phase-out of most fossil fuels well before 2050, Shell Plc signed a 27...
Read more »
Farm groups call on Australia to not sign 'dud' trade deal with EUAustralian farm industry groups on Monday called on the government to not sign a trade deal with the European Union unless it offered much greater market...
Read more »
Farm groups call on Australia to not sign 'dud' trade deal with EUAustralian farm industry groups on Monday called on the government to not sign a trade deal with the European Union unless it offered much greater market...
Read more »