Everything comes down here. The news bounced online from BOF.

Almost. The online luxury giant Farfetch, which alone holds up half of the world's independent luxury fashion retail system (and beyond), after seeing its share value collapse by 97% in just 2 years, has faltered greatly. And today he was forced to sell. With an operation that sounds like a save on the goal line, in the ninetieth minute-

The news of the sale to the South Korean Coupang group for 500 million dollars is almost official.

For now, the hundreds of luxury multibrands are breathing a sigh of relief, many of them Italian, who live attached as if to an oxygen tank, with a small tube that if it were to detach would cause the entire system to collapse.

This time we came very close.

As a result, the acquisition of Yoox-Net A Porter from the Richmemont group (47.5%) by Farfetch, which was considered certain a month and a half ago, is canceled.

It is not known how the new 'owner' will decide to manage the enormous portal, and what repercussions this could have.

One rule in the business world is certain: never make your life depend on just one customer. But it is in this situation that hundreds of luxury shops find themselves, especially Italian ones, who alone cannot handle the enormous turnover they have to generate to keep their structures up and have not yet found a way to diversify safely.

But there are not only shops, because the chain effect would have overwhelmed all the luxury brands that sell to these stores. In particoular the less structured luxury labels compared to the giants would have risked being swept away.

How is it possible that all this happens in such a strong and unexpected way? Precisely in relation to the global giant that seemed to be the cornerstone of the system?

We will analyze it separately later.