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MarketScreener Homepage  >  Equities  >  Nyse  >  Farfetch Limited    FTCH   KY30744W1070

FARFETCH LIMITED

(FTCH)
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Farfetch Shares Jump After Landing $1.15 Billion Investment

11/06/2020 | 11:30am EST

By Robb M. Stewart

Farfetch shares jumped Friday after it struck a global partnership with Alibaba Group and Compagnie Financiere Richemont SA as part of a $1.15 billion investment in the fashion retail-platform.

In morning trading, the stock was 14% higher at $42.99, extending the year-to-date rally.

In a move unveiled Thursday, Alibaba will launch Farfetch shopping channels on its Tmall Luxury Pavilion and Luxury Soho marketplaces.

Chinese giant Alibaba and Swiss luxury company Richemont will each invest $300 million in private convertible notes issued by Farfetch, and $250 million apiece in a new joint venture that will include Farfetch's marketplace operations in the China region. The pair will buy a further combined 24% in Farfetch China after the third year of the venture's formation, and said they will seek additional opportunities to work with Farfetch to provide services to luxury brands.

Separately, Artemis, the controlling shareholder of global Luxury group Kering, agreed to increase its existing investment in Farfetch with a $50 million purchase of Farfetch's class A shares.

With the investment, Alibaba will nominate one director to Farfetch's board.

On Friday, Wells Fargo raised its recommendation on Farfetch's shares to equal-weight from underweight, with a target of $42 a share.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

11-06-20 1129ET

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -0.17% 242.31 Delayed Quote.4.40%
COMPAGNIE FINANCIÈRE RICHEMONT SA -1.25% 82.3 Delayed Quote.4.07%
FARFETCH LIMITED -2.97% 57.7 Delayed Quote.-6.75%
KERING SA -1.37% 561.8 Real-time Quote.-4.17%
WELLS FARGO & COMPANY -7.75% 32.045 Delayed Quote.15.14%
All news about FARFETCH LIMITED
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2020JPMorgan Adjusts Farfetch's Price Target to $68 From $62, Reiterates Overweig..
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2020BofA Securities Adjusts Farfetch PT to $62 From $53, Maintains Buy Rating
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2020FARFETCH : Download PDF ()
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More news
Financials (USD)
Sales 2020 1 654 M - -
Net income 2020 -996 M - -
Net cash 2020 1 027 M - -
P/E ratio 2020 -19,4x
Yield 2020 -
Capitalization 20 206 M 20 206 M -
EV / Sales 2020 11,6x
EV / Sales 2021 8,72x
Nbr of Employees 4 532
Free-Float 68,3%
Chart FARFETCH LIMITED
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Technical analysis trends FARFETCH LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 56,97 $
Last Close Price 59,50 $
Spread / Highest target 17,6%
Spread / Average Target -4,25%
Spread / Lowest Target -65,5%
EPS Revisions
Managers and Directors
NameTitle
José Manuel Neves Chairman & Chief Executive Officer
Luis Teixeira Chief Operations Officer
Elliot Gilbert Jordan Chief Financial Officer
Cipriano Sousa Chief Technology Officer
Dana L. Evan Independent Non-Executive Director
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