what's happening with Farfetch ?

Despite all its troubles, Farfetch is still, by far, the leader, among online luxury retailers with 31.5 million visits in November 23.
The n.2 is Ssense.com with 18.1 million visits.
Also interesting to note that Ssense had a significant growth vs its peers since September (in term of visits) : + 31 % vs + 5 % for Farfetch, + 4 % for Cettire, + 5 % for Mytheresa and - 5 % for Net a Porter.
Mytheresa, Net A Porter and Cettire had respectively 7.5 million, 7.1 million and 5.3 million visits.

We know that Farfetch situation has been rather bad for some time, as the company struggles to turn profitable.
Recently, there were rumors that the company could go private and be acquired by its existing management.
Since then, the situation has turned quite confusing, as the company has delayed the reporting of its results.
And the share price keeps reaching new lows.
Farfetch has now a market cap of 486 m USD, around 740 m AUD vs 1.1 bn AUD for Cettire.

See recent articles about Farfetch :

The e-commerce giant is seeking a cash injection to avert a collapse that could send shockwaves across the fashion industry. So far nobody has come to the table and time is running out, but founder José Neves may yet have a move up his sleeve.

• Farfetch may not have enough cash to get it through the remainder of the year, some analysts say.
• The luxury e-tailer’s options are limited now that its deal with Richemont to buy a stake in Yoox-Net-a-Porter appears to have stalled.
• Farfetch is looking for other potential investors, and is considering the sale of its once-profitable brand incubator New Guards Group, which operates Off-White and Palm Angels.

Source : The Business of Fashion (1 week ago)

The fashion retail platform Farfetch Limited (FTCH, Financial) experienced a staggering 37% drop in its stock value in late trading on Monday, hitting a record low of $0.76. The company has been under intense selling pressure since late November following the announcement by Richemont (CFRHF) that it had no intentions to invest in or loan money to Farfetch. Compounding the issue, Farfetch delayed its Q3 earnings report and related conference call. The company's financial challenges were further highlighted by two credit downgrades earlier this month and reports of a potential sale of Browns, a subsidiary, as Farfetch seeks to raise funds.
Source : GuruFocus (today)

Probably worth following what's happening with Farfetch, as it could have a significant effect on the rest of the sector.
At this stage, it is just speculation, but if anything serious happen to Farfetch, it could help Cettire's growth, which has slowed recently, looking at Similarweb figures : + 59 % yoy in September, + 55 % yoy in Oct and + 32 % yoy in Nov.