EURAZEO (EPA:RF) - FARFETCH VALUED AT $7 BILLION FOLLOWING ITS IPO ON THE NEW YORK STOCK EXCHANGE
Transparency directive : regulatory news
26/09/2018 17:45
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PRESS RELEASE
FARFETCH VALUED AT $7 BILLION FOLLOWING ITS IPO ON THE NEW YORK STOCK EXCHANGE
Paris, September 26, 2018
Eurazeo Croissance, the Eurazeo investment division that specializes in
assisting fast-growing companies, celebrates the success of Farfetch's IPO on
the New York Stock Exchange.
Created in 2008, Farfetch is an online market place connecting fashion and
luxury goods, brands and multi-brand boutiques with customers in 190 countries.
The website, translated into 12 languages, retails products from nearly 1,000
independent boutiques and partner brands, guaranteeing ample access to high-end
customers. The company's rapid expansion is due to its multi-channel model that
enables customers to buy online and collect or return items in stores, its
extensive catalogue and its broad customer base. In 2017, Farfetch generated a
business volume of $910 million, up 55% compared to 2016, and had nearly
936,000 active customers, a 44% increase from the previous year. This growth
was driven by its policy to win over new customers in emerging markets, such as
China and the United Arab Emirates.
A minority shareholder since May 2016, Eurazeo Croissance invested $25 million
in the London-based company as part of a total fundraising of $110 million.
Supported by its investors, Farfetch has since furthered its international
expansion and continued to develop its first-rate partner network.
Last Friday for its IPO, Farfetch and its shareholders priced the share at $20.
A sign of investor confidence, the share opened at $27, and steadily climbed
during its market debut before closing at $28.45, i.e. a surge of 42.25%.
Eurazeo Croissance did not sell its shares during the IPO, thereby renewing
its confidence in Farfetch's potential to create value. At the close of the
first day of trading, its investment was valued at $106 million.
Virginie Morgon, Eurazeo CEO, stated: "We'd like to thank José and his teams
for the confidence they've shown us in the past. We're delighted to have
assisted Farfetch over these last 2 years and we'll continue our active
involvement in the next stages of its development."
Yann du Rusquec - Managing Director, Head of Eurazeo Croissance, added: "We're
extremely proud of Farfetch's successful IPO on the New York Stock Exchange and
would like to thank all the shareholders and investors for their support in
this venture. This success is instrumental in fulfilling our ambition for
Farfetch."
About Eurazeo
o With a diversified portfolio of more than EUR17 billion in assets under
management, including over EUR11 billion from third parties, Eurazeo is a
leading global investment company with offices in Paris, Luxembourg, New
York, Shanghai and Sao Paulo. Its purpose and mission is to identify,
accelerate and enhance the transformation potential of the companies in
which it invests. The firm covers most private equity segments through its
investment divisions - Eurazeo Capital, Eurazeo Croissance, Eurazeo PME,
Eurazeo Patrimoine and Eurazeo Brands - and through three Idinvest business
divisions: Venture Capital, Private Debt and Dedicated Portfolio & Funds.
Its solid institutional and family shareholder base, robust financial
structure free of structural debt, and flexible investment horizon enable
Eurazeo to support its companies over the long term. As a global long-term
shareholder, the firm offers deep sector expertise, a gateway to global
markets, and a stable foothold for transformational growth to the companies
it supports.
o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 - Bloomberg: RF FP - Reuters: EURA.PA
About Farfetch
o Farfetch is a revolutionary way to buy fashion. The pioneering website brings
together products from more than 400 of the world's best independent designer
boutiques and global brands from more than 37 countries including Paris, New
York and Milan to Bucharest, Kuwait and Tokyo.
Its partners have been carefully selected for their unique approach,
forward-thinking attitude and diversity, and include such renowned boutiques
as Browns in London, L'Eclaireur in Paris, H. Lorenzo in Los Angeles, Kirna
Zabête in New York and Excelsior in Milan; and brands including Derek Lam,
J.W Anderson, Roksanda, AMI Paris, Dion Lee and La Perla.
o Founded in 2008 by the Portuguese entrepreneur José Neves, the site is now
translated in 12 languages servicing over 190 countries. For lovers of
beautiful fashion Farfetch offers the chance to indulge a passion and shop
the world. www.farfetch.com @Farfetch
EURAZEO CONTACTS
CAROLINE COHEN
HEAD OF INVESTOR RELATIONS
E-mail: ccohen@eurazeo.com
Tel: +33 (0)1 44 15 16 76
STEPHANIE MARIA - BAJARD
DIRECTOR OF COMMUNICATIONS
E-mail: smaria-bajard@eurazeo.com
Tel: +33 1 44 15 80 44
For more information, please visit the Groups website: www.eurazeo.com
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