The rumors surrounding a possible take-private of Farfetch have caught the attention of the public. The luxury goods conglomerate Richemont has now publicly stated on Wednesday that it has "no financial obligations" towards the luxury goods platform and has no intention of granting it loans or investing in it.

According to the British "Telegraph", Farfetch founder José Neves is currently in talks with banks and shareholders to delist the company from the stock market following its disastrous IPO in 2018. Among the people involved in the discussions is also Richemont, who, as it is known, wants to jointly establish an online platform for luxury goods with Farfetch.

The Geneva-based company plans to sell off 47.5 percent of its online subsidiary Yoox-Net-A-Porter (YNAP) to the British online retailer and 3.2 percent to long-time Arab business partner Mohamed Alabbar. Richemont shares will be received in return. All regulatory approvals for the transaction have already been obtained, but the completion still depends on further conditions, as recently emphasized by Richemont President Johann Rupert.

The Swiss luxury conglomerate is closely monitoring the situation and examining various options regarding the agreements announced on August 24, 2022 with Farfetch, which are still subject to conditions and open terms. This is stated in the statement published today.

Richemont emphasizes that neither the company itself nor YNAP currently have adopted Farfetch's platform solutions and will continue to operate on their own platforms. "Richemont will make further announcements in due course," stated the official statement.

Originally, Farfetch had planned to present the figures for the third quarter today. However, yesterday the company surprised with the announcement that the figures would not be released without giving a reason. Furthermore, Farfetch announced that the company is currently not providing any forecasts or predictions and that one should no longer rely on previous forecasts or predictions.

The Richemont share shows a partially positive development of 0.88 percent to 109.45 Swiss francs in SIX trading.