Farfetch Raises $250M USD in Debt to Further Grow Platform

Tencent and Dragoneer are on board to invest.

Fashion 
5,799 Hypes 5 Comments

Farfetch recently announced that it will be offering convertible senior notes totaling $250 million USD to global tech company Tencent and San Francisco-based investment firm Dragoneer. Tencent is on board to purchase $125 million USD of the notes, and Dragoneer is set to purchase the other $125 million USD.

The decision to open up to more investors through a private placement of convertible debt was celebrated by Farfetch investors who were reportedly concerned with the company’s strategy. As an immediate result, Farfetch shares increased 11.4 percent to $12.62 USD. According to WWD, the new shares “could be converted into shares at an initial price of $12.25.”

Farfetch told WWD that the deal will support its liquidity and its “long-term strategy of delivering a global technology platform for the luxury fashion industry.”

Farfetch and Tencent already have a particularly interesting relationship, as the global retailer is currently using Tencent’s WeChat platform to help Western brands reach Chinese consumers. The retailer added that its decision will “facilitate the company’s continued focus on executing its growth plans, including in the key China market, and driving toward operational profitability.”

Farfetch founder and CEO José Neves says that Tencent’s “deep technology expertise and ongoing relationship with Farfetch, paired with Dragoneer’s expertise in supporting growth-oriented technology companies, makes both investors outstanding partners.”

The notes issued by Farfetch to Tencent and Dragoneer will mature on December 31, 2025 unless they are converted, redeemed or repurchased at an earlier date.

Elsewhere in business, Barneys is currently in a legal battle with ex-employees over severance claims.

Read Full Article

What to Read Next

The Sandbox Is Eyeing Plans To Raise $400 Million USD for a $4 Billion USD Valuation
Tech 

The Sandbox Is Eyeing Plans To Raise $400 Million USD for a $4 Billion USD Valuation

In line with the co-founder’s more “aggressive” approach this year.

Riot Games Raises $5.4 Million USD for Humanitarian Efforts in Eastern Europe
Gaming

Riot Games Raises $5.4 Million USD for Humanitarian Efforts in Eastern Europe

Distributing the funds equally between three organizations providing aid in the region.

Joe Budden Claims JAY-Z Asked for $250,000 USD to Appear on "Pump It Up" Remix
Music

Joe Budden Claims JAY-Z Asked for $250,000 USD to Appear on "Pump It Up" Remix

Hov eventually dropped a freestyle over the same beat.


Burglars Bust Through Wall to Steal $250,000 USD-Worth of Pokémon Product
Gaming

Burglars Bust Through Wall to Steal $250,000 USD-Worth of Pokémon Product

The criminals made the small hole from the vacant store next door.

Infinite Archives Crafts Exclusive Merch for Lil Wayne's 'Funeral'
Fashion

Infinite Archives Crafts Exclusive Merch for Lil Wayne's 'Funeral'

Showcasing Weezy throughout the years.

Jessy Nite Transforms UNKNWN Wynwood's Courtyard into Colorful Football Field
Art

Jessy Nite Transforms UNKNWN Wynwood's Courtyard into Colorful Football Field

Kicking off the store’s Super Bowl weekend “created by women for everyone.”

André Saraiva Joins Medicom Toy for Collectible 'Mr. A' Ball
Art

André Saraiva Joins Medicom Toy for Collectible 'Mr. A' Ball

Available in contrasting pink and black colorways.

NUMBER (N)INE Reintroduces Classic Designs for SS20
Fashion

NUMBER (N)INE Reintroduces Classic Designs for SS20

Archival graphics and plenty of collectible accessories accompanied by new standards.

Test Footage From Abandoned 'Star Wars: Underworld' TV Series Reportedly Surfaces
Entertainment

Test Footage From Abandoned 'Star Wars: Underworld' TV Series Reportedly Surfaces

A grounded Star Wars story similar to ‘The Mandalorian.’


Tyler, The Creator Nabs First-Ever Win at Kodak Film Awards for His Music Videos
Music

Tyler, The Creator Nabs First-Ever Win at Kodak Film Awards for His Music Videos

Tyler was recognized alongside Quentin Tarantino.

Chinatown Market Taps Foul Trouble for "T-Shirt Chain" Jewelry Capsule
Fashion

Chinatown Market Taps Foul Trouble for "T-Shirt Chain" Jewelry Capsule

Crafted in 14k gold vermeil.

UNIQLO U SS20 Lends Surfer Cool to Workwear Essentials
Fashion

UNIQLO U SS20 Lends Surfer Cool to Workwear Essentials

Everything from toned-down tailoring and Cuban shirts to work pants and backpacks.

"World's Best Restaurant" to Descend on New York City During Fashion Week
Food & Beverage

"World's Best Restaurant" to Descend on New York City During Fashion Week

Mirazur will bring its Mediterranean dishes for a limited time.

Nintendo to Release 'Animal Crossing' Themed Switch in Pastel Colors
Gaming

Nintendo to Release 'Animal Crossing' Themed Switch in Pastel Colors

Releasing alongside the upcoming ‘Animal Crossing: New Horizons’ title.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.