Barneys buy? Not us, says Farfetch as it denies press report
today Aug 27, 2019
Given the acquisition trail Farfetch has been on recently, and its listing last year on the New York Stock Exchange, it might seem like a no-brainer that the company would be interested in buying US-based Barneys. The New York Post published a story to that effect on Monday, but interesting as such a combination would be, it seems that it won’t be happening.
Farfetch issued a simple statement on Tuesday denying that it’s going to buy the distressed US luxury retailer.
“Farfetch Limited, the leading global technology platform for the luxury fashion industry, notes the New York Post published a story on August 26, 2019 stating that: ‘Barneys nears sale to online luxury retailer Farfetch’. The story is incorrect – Farfetch is not acquiring Barneys New York.”
Admittedly, denials are commonplace during purchase negotiations, but such denials usually come with caveats along the lines “not currently committed” to doing X, Y or Z. “Farfetch is not acquiring Barneys New York” seems to leave no room for doubt, however, that the company really doesn’t intend to snap up the Barneys operation.
Of course, those who speculate on such issues could be forgiven for putting the two names together. In recent weeks, Farfetch has announced the acquisition of New Guards Group and that followed a string of high-profile purchases or partnerships.
In recent years it has bought Browns, taken over Condé Nast’s Style.com operation, bought CuriosityChina and Stadium Goods, merged JD.com's Toplife business into its China ops and partnered with Burberry, The Modist, Harrods, Sandro, Mulberry and many more major retailers and labels.
New Guards is unlikely to be its last acquisition, but it seems Barneys won’t be joining the list.
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