Overview

• Online luxury retailer Farfetch is in talks with Apollo Global Management and other firms to secure emergency funding, though a deal is not yet certain.
• Farfetch's shares rose by as much as 24% amid the news, with its market capitalization standing at about $220.9 million.
• Moody's recently downgraded Farfetch's credit rating deeper into 'junk' territory and put it on review for a further cut due to its deteriorating financial position.
• Farfetch founder and CEO Jose Neves has reportedly been in talks to take the company private, but Richemont, a top shareholder, has stated it will not inject any cash into the retailer.
• Potential investor Carmen Busquets is looking to raise between $500 million and $1 billion to rescue the company, proposing a five-year plan for fast growth and profitability.