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The French investment group Eurazeo announced on Tuesday that it has sold all of its Farfetch shares on the market in recent days.
The investment group Eurazeo was a shareholder in Farfetch, an international online sales platform offering luxury houses and multi-brand boutiques a dedicated sales space available to customers in 190 countries.
Among the flagship brands in the online catalog are the major luxury houses, such as Gucci, Valentino, Miu Miu, Balmain, Fendi and even the Italian luxury house Versace. Farfetch not only markets the brands of major designers, but the fashion site also supports emerging designers and small boutiques through several projects, including promoting these boutiques internationally.
Eurazeo acquired a stake in the online marketplace, which specializes in luxury goods, in May 2016. “The group has accompanied the company’s growth, particularly in its commercial development with luxury brands and geographically, especially in China,” Eurazeo Group emphasized.
This withdrawal was made this week on the market and “resulted in a net income of 90.4 million euros“, while Eurazeo had invested 20 million dollars (about 17 million euros) in the online sales system in 2016. 90.4 million corresponds to “a multiple of 4.1 times the return in terms of cash and an internal rate of return of approximately 38%,” Eurazeo detailed.
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Featured photo: © Farfetch[/vc_column_text][/vc_column][/vc_row]
