Greenoaks-backed Coupang completed the acquisition of Farfetch for $500m.

Greenoaks-backed Coupang, a global retailer listed on New York Stock Exchange, completed the acquisition of Farfetch, a global marketplace for the luxury fashion industry, for $500m. “Farfetch is a landmark of the luxury landscape and has been a transformative force in demonstrating that online luxury is the future of luxury retail, Farfetch will rededicate itself to providing the most elevated experience for the world’s most exclusive brands, while pursuing steady and thoughtful growth as a private company. We also see tremendous opportunities to redefine the customer experience for luxury clients everywhere,” Bom Kim, Coupang Founder & CEO.