"Neither Richemont Maisons nor YNAP have currently adopted Farfetch Platform Solutions and they continue to operate on their own platforms," Richemont said. On Tuesday, British daily the Telegraph reported that Farfetch founder Jose Neves was in talks with top shareholders to take the company private, sending Farfetch shares surging more than 20%. A delisting of Farfetch could affect the YNAP deal with Richemont, analyst Piral Dadhania at RBC Capital Markets said. Potential outcomes include Farfetch backing out of the deal or renegotiating its terms, Dadhania wrote in a research note. In a worst-case scenario in which the deal fell apart, Richemont would likely look for other options to deconsolidate YNAP, Dadhania said.

Source: Wall Street Journal November 29, 2023 10:22 UTC