BUZZ-Farfetch jumps after report founder looking to take luxury retailer private

Reuters2023-11-29

** Shares of online luxury retailer Farfetch jump ~23% to $2.10; headed for best day since Aug 2022, if gains hold

** Co's founder José Neves is believed to be in talks with bankers and shareholders to take the company private, reports the Telegraph

** The founder's bid is said to have the "tentative backing" of FTCH's backers such as Alibaba and Richemont

** Farfetch listed on the NYSE in Sept 2018 and was valued at $6.3 billion

** However, FTCH has lost more than 90% of its value since, as it battles cost pressures and weak luxury demand

** Up to last close, stock down 63.9% YTD

(Reporting by Juveria Tabassum in Bengaluru)

((Juveria.Tabassum@thomsonreuters.com;))

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