According to a report by The Telegraph, luxury fashion retailer Farfetch is currently in talks to go private. Founder José Neves is reportedly engaging in discussions with prominent shareholders and bankers, including Richemont and Alibaba, in order to remove the company from the New York Stock Exchange. Upon hearing this news, the share price of Farfetch experienced a significant increase, which is noteworthy considering its downward trajectory over the past two-and-a-half years. The company has been struggling as a publicly listed entity mainly due to consistent losses and its acquisition of various other brands. With his 15% ownership of the company and 77% voting rights, it is speculated that Neves is seeking to turn the business around away from the public eye.

1. The Telegraph
2. Farfetch Official Website