Eurazeo has sold Farfetch for net proceeds of 90.4 million euros. Farfetch is an online marketplace connecting fashion and luxury goods brands as well as multi-brand boutiques with customers in 190 countries
PARIS, Nov. 3, 2020 /PRNewswire/ — Eurazeo today announced the completion of the sale in the market in recent days of all its shares in Farfetch, a Eurazeo Growth portfolio company.
This disposal resulted in net proceeds of €90.4 million, corresponding to a multiple of 4.1x cash-on-cash and an IRR of around 38%. It is the second portfolio exit for Eurazeo Growth, after PeopleDoc in 2018.
Eurazeo had been a shareholder in Farfetch, an online marketplace connecting fashion and luxury goods brands as well as multi-brand boutiques with customers in 190 countries, since May 2016. Over this period, the Group accompanied the company’s growth, particularly by helping it develop its business among luxury goods brands and expand its geographic footprint in China and other countries.
Yann du Rusquec, Partner at Eurazeo Growth, said:
Eurazeo Growth is especially proud to have supported Farfetch in its development strategy since 2016. We wish José Neves and his teams every success with their future growth plans.
Eurazeo is a leading global investment company, with a diversified portfolio of €18.5 billion in assets under management, including nearly €12.9 billion from third parties, invested in over 430 companies. With its considerable private equity, venture capital, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. 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.
Eurazeo has offices in Paris, New York, São Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Berlin and Madrid.