Farfecth has acquired Off-White owner, New Guards in a deal worth $675 million.
The online retailer has said that the move ‘advances its strategy to be the global technology platform for the luxury fashion industry’.
New Guards has brands including Off-White, Palm Angels, Marcelo Burlon County of Milan, Herin Preston, Alanui, Unravel Project and Kirin Peggy Gou under its umbrella.
Farfetch has said that the purchase underscores its commitment to making strategic investments in assets that enhance and accelerate its existing strategy. It also said that the transaction ‘will create significant value for shareholders, and deliver meaningful benefits to consumers, designers, retailers and manufacturers.’
