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Condé Nast withdraws £234m stake in Farfetch

Condé Nast has reportedly stepped away from its partnership with Farfetch, and withdrawn its £234m stake in the luxury fashion platform.

The Vogue and GQ publisher had concerns about “the amount of money Farfetch was spending on marketing”, The Sunday Times reported.

Condé Nast chairman Jonathan Newhouse stepped down from the Farfetch board in March.

The publisher closed its fledgling ecommerce site Style.com and entered into a partnership with Farfetch in June 2017

The partnership brought together Condé Nast’s editorial content with Farfetch’s global ecommerce platform. Farfetch acquired the Style.com trademark, its inventory and customer database.

Condé Nast has been contacted, while Farfetch declined to comment. 

 

Readers' comments (1)

  • Interesting. The Condé deal will have given other investor confidence to get on board since. Sounds like this will escalate.

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