The group of investors, which is called the 2027 Ad Hoc Group and controls over 50% of the company’s convertible notes, challenged the acquisition amid concerns that its value would plummet under Coupang ownership.

The 2027 Ad Hoc Group believed it could achieve a better value for the company assets by breaking them up or other options. Its attempts to halt the sale included appointing financial advisors and declaring the company in default.

However, on January 30, Coupang finalised its acquisition of Farfetch and a statement read, in response to the investors: “Farfetch expects that holders of its Class A and B ordinary shares and its convertible notes will not recover any of their outstanding investments in Farfetch, and Farfetch expects to be liquidated.”