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Ambush has become the latest brand to leave the roster of Farfetch-owned New Guards Group.
Founders Yoon Ahn and Verbal announced Friday that they had bought back full ownership of the company they founded in 2008 in Tokyo. In 2020, they sold a controlling stake to New Guards Group shortly after Farfetch took ownership of the Italian luxury streetwear incubator.
“Regaining full ownership enables us to fully express the core values and original vision upon which Ambush was built,” Ahn said in a statement.
Ambush’s return to independence comes amid a period of turbulence for New Guards Group. Last November, the company filed for the Italian equivalent of bankruptcy protection, and in February, it sold Palm Angels to Bluestar Alliance — the same brand-management firm that acquired Off-White from LVMH in September. New Guards Group sold its majority stake in the Off-White LLC to LVMH in 2021 but still holds a licensing agreement with the brand until 2026.
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Parent company Farfetch had struggled in recent years, ultimately selling to South Korean e-commerce giant Coupang in 2023 in order to stave off collapse. Coupang has since implemented cost-cutting measures to streamline Farfetch’s business.
Learn more:
Inside Coupang’s Tug of War With Farfetch
A year into its ownership of the embattled luxury e-tailer, the South Korean e-commerce giant is whipping Farfetch into shape, reaching near breakeven in its latest quarter. But company insiders say Coupang has gone from cutting fat to cutting muscle, stripping Farfetch of its ability to compete for the attention and dollars of key ultra-wealthy shoppers who account for 30 percent of its annual sales.
