According to reports, leading consumer publishing group Conde Nast has sold its £234 million stake in Farfetch due to concerns over its management and, specifically, its increasing spend on marketing. The Vogue and GQ publisher had been one of Farfetch’s earliest investors and also a commercial partner, sending its online readers to the Farfetch website to make fashion purchases.
Farfetch posted annual sales of £454 million to 31st December but made a loss, after-tax, of £117.4 million compared with the previous year’s loss of £84.8 million.
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