Farfetch Limited, the leading global technology platform for the luxury fashion industry listed on the NYSE, announced today that it has entered into binding agreements with the current shareholders of New Guards Group S.p.A., a platform for luxury brands’ design, productions, and distribution, to acquire, through its subsidiary Farfetch Italia S.r.l., the entire share capital of New Guards Group S.p.A., whose total enterprise value has been valued at US$675,000,000. The consideration payable by Farfetch Italia S.r.l. will be split equally between cash and shares of Farfetch Limited.
The acquisition of New Guards Group S.p.A. by the Farfetch group supports Farfetch’s strategy as the global technology platform for luxury fashion, empowering individuality and connecting creators, curators, and customers.
Latham & Watkins represents Farfetch Limited and its subsidiary Farfetch Italia S.rl. in the transaction, with a cross-border team led from Milan by corporate partner Stefano Sciolla, with associates Giovanni Spedicato, Silvia Milanese, and Chiara Venditti. Advice was also provided on finance matters by Milan partner Marcello Bragliani with associate Erika Brini Raimondi; on regulatory matters by Milan counsel Cesare Milani with associate Virginia List; on English law matters by London partner Edward Barnett with associates Samantha Peacock, Drishi Beeharry, Hendrik Smit, and Haya Aftab; and on US law matters by London partner Joshua Kiernan, New York partners Ian Schuman and Adam Gelardi, and London associate Jennifer Gascoyne.