Investment company Eurazeo has recently completed the sale of its entire stake in luxury online marketplace, Farfetch. This move has resulted in a profit of €90.4 million for Eurazeo, which had been a shareholder in Farfetch since May 2016. Over the years, Eurazeo had provided support to Farfetch in its growth endeavors, assisting the company in enhancing its business relationships with luxury goods brands and expanding its presence in markets like China and other countries.

Yann du Rusquec, Partner at Eurazeo Growth, expressed his pride in supporting Farfetch’s development strategy and extended his best wishes to CEO José Neves and his team for their future growth plans. The announcement of Eurazeo’s stake sale comes on the heels of reports suggesting that Alibaba is in advanced talks to invest around $300 million in Farfetch. This news caused Farfetch’s share price to surge by approximately 16%. Furthermore, there are ongoing discussions about establishing a joint venture in China and the possibility of an investment from Richemont, the owner of Net-A-Porter, who has previously worked with Alibaba on various projects.

For more information on Eurazeo’s sale of Farfetch shares, visit link 1 and to learn about Farfetch’s potential collaborations with Alibaba and Richemont, click link 2.