On Tuesday, Coupang (NYSE:CPNG) has made headlines by finalizing the acquisition of the assets of global online luxury company Farfetch.
The acquisition will enable Farfetch to extend its services to more than four million customers globally by accessing $500M in capital. Coupang (CPNG) is betting that with its operational expertise and innovative logistics, Farfetch is now set for sustained and deliberate growth.
“Farfetch is a game-changer in the luxury market and has been pivotal in proving that the future of luxury retail is online,” said Coupang (CPNG) CEO Bom Kim. “Farfetch is committed to offering the most exceptional experience for the world’s most prestigious brands, while pursuing steady and thoughtful growth as a private company,” Kim added.
Looking forward, Kim and the leadership team foresee enormous opportunities to redesign the luxury customer experience worldwide.
Coupang (CPNG) is anticipated to release its earnings on February 9. Analysts predict that the e-commerce company will report revenue of $6.37B and EPS of $0.06. Coupang has delivered four consecutive profitable quarters. The Seeking Alpha Quant Rating on CPNG suggests a Hold status.