Coupang Completes Acquisition of Farfetch
31 Gennaio 2024 - 10:00AM
Business Wire
Coupang, Inc. announced today that it has completed the
acquisition of the assets of global online luxury company Farfetch
Holdings plc. By providing access to $500M in capital, this
acquisition allows Farfetch to continue delivering exceptional
services for its brand and boutique partners, and to more than four
million customers around the world. By leveraging Coupang’s
operational excellence and innovative logistics, Farfetch is now
well-positioned to pursue steady and thoughtful growth.
About Coupang
Coupang, a Fortune 200 company listed on the New York Stock
Exchange (NYSE: CPNG), is one of the largest retailers in the
world. Its mission is to revolutionize the lives of its customers
and create a world where people wonder, “How did we ever live
without Coupang?” Coupang offers a variety of services, including
same-day and dawn delivery of merchandise, delivery of prepared
foods through Coupang Eats, fintech through Coupang Pay, and video
streaming through Coupang Play. Coupang is headquartered in the
United States, with operations and support services performed in
markets including South Korea, Taiwan, Singapore, China, and
India.
FORWARD-LOOKING STATEMENTS
This press release may be deemed to contain forward-looking
statements, which are subject to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Any statements
that are not statements of historical fact (including statements
containing the words “will,” “believes,” “plans,” “anticipates,”
“expects,” “estimates,” “strives,” “goal,” “intends,” “may,”
“endeavors,” “continues,” “projects,” “seeks,” or “targets,” or the
negative of these terms or other comparable terminology, as well as
similar expressions) should be considered to be forward-looking
statements, although not all forward-looking statements contain
these identifying words. Readers should not place undue reliance on
these forward-looking statements, as these statements are the
management's beliefs and assumptions, many of which, by their
nature, are inherently uncertain, and outside of the management's
control. Factors that may cause actual results to differ materially
from those in any forward‑looking statements include, without
limitation, (i) the effect of the announcement or the transaction
on Coupang or Farfetch’s business relationships, operating results,
growth, and business generally, (ii) risks that the transaction
disrupts current Coupang’s plans and operations and potential
difficulties in employee retention at both companies as a result of
the transaction, (iii) risks related to diverting management’s
attention from Coupang’s ongoing business operations, (iv) the
outcome of any legal proceedings that may be instituted against
Coupang or Farfetch related to the transaction, (v) the ability of
Coupang to successfully integrate Farfetch’s operations and
technology, and (vi) the ability of Coupang to implement its plans,
forecasts, and other expectations with respect to the combined
company’s business after the completion of the acquisition and
realize additional opportunities for growth and innovation; and
other risks, uncertainties and factors relating to Coupang's
operations and financial performance discussed in its filings with
the SEC. For additional information on other potential risks and
uncertainties that could cause actual results to differ from the
results predicted, please see our most recent Annual Report on Form
10-K and subsequent filings. All forward-looking statements in this
press release or related management commentary are based on
information available to Coupang and assumptions and beliefs as of
the date hereof, and we disclaim any obligation to update any
forward-looking statements, except as required by law. We may not
actually achieve the plans, intentions, or expectations disclosed
in our forward-looking statements, and you should not place undue
reliance on our forward-looking statements.
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Coupang PR press@coupang.com
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