Linklaters advises Farfetch on the acquisition of Wannaby
Linklaters has advised Farfetch, the leading global platform for the luxury fashion industry, on the acquisition of Wannaby Inc. (trading as Wanna) which provides immersive augmented reality and virtual try on technology for the luxury fashion industry, allowing users to virtually try on shoes and accessories.
The acquired technologies have been developed by engineers located across Europe with the sellers being a mixture of founders, VC funds and equity incentive plan members. The consideration comprised cash and Farfetch shares (the latter being subject to service conditions for certain management team members and employees of Wannaby Inc. remaining with Farfetch after the acquisition). The transaction was closed in April with the aim to expand and scale virtual try-on capabilities on the Farfetch platform.
Linklaters’ cross-practice and cross-jurisdictional team was led by partner, Daniel Cousens alongside managing associate, Klaudia Owsianka.