Richemont, the owner of luxury jeweller Cartier, has played down reports it will back any move to take online luxury retailer Farfetch private.
UK-based, online luxury brands retailer FarFetch has been a megaflop on the US stock market shedding almost all of its value in the past two years as revenues have stalled.
Farfetch yesterday said it would not announce its third-quarter results on Wednesday as expected, adding previous forecasts or guidance were no longer relevant.
Reports last night said founder Jose Neves is working with advisers at JP Morgan to take back full ownership again, He currently has a 15% stake.
A year ago, Richemont agreed to sell its Yoox Net-A-Porter online fashion and accessories business to Farfetch in a deal that will see it receive an initial 58.5 million shares.
"Richemont would like to remind its shareholders that it has no financial obligations towards Farfetch and notes that it does not envisage lending or investing into Farfetch," the Swiss group said in a statement today.
Citing a person familiar with the matter, Reuters reported that Richemont had " no intention" of putting money into Farfetch, but declined to comment if a delisting would void the deal.
Richemont added that neither its divisions nor YNAP, are using Farfetch's platforms and would continue to run their own sales platforms.