LONDON — Farfetch is not on another shopping spree.
The London-based retailer issued a statement Tuesday morning, denying the suggestion that it intended to buy Barneys New York out of administration, following a story published by the New York Post.
“The story is incorrect. Farfetch is not acquiring Barneys New York,” the statement said.
Farfetch has been increasing its M&A activity significantly, after filing for an IPO last summer. Most recently, it bought Off-White licensee New Guards Group for $675 million, prompting investor unease. The share price declined around 40 percent following the news of the transaction.
It has also bought sneaker and streetwear marketplace Stadium Goods and introduced new services like handbag consignment, as it continues its mission to become “the leading global technology platform for the luxury fashion industry.”