Condé Nast disposes of its stake in Farfetch

Condé Nast has dumped its £234m stake in Farfetch amid concerns over how the luxury marketplace is managed.

The publisher of Vogue is said to have had concerns about the amount of money Farfetch, led by José Neves, was spending on marketing.

Condé Nast chairman Jonathan Newhouse stepped down from the online company’s board in March.

Last year, Farfetch’s sales jumped by 56% to £475m, but losses widened to £122.7m.

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