Farfetch closes Braga office

 In Acquisitions, Companies, News

Farfetch, the former Portuguese unicorn that was bought out by South Korea’s Coupang, left its offices in Braga at the end of September, 2023.

The decision to close the offices it had occupied for just over four years on Avenida Dom João II, was taken in order to concentrate its teams in offices in Matosinhos and Guimarães.
The opening of the office in Braga, the fourth in the country, was announced at the start of 2018 with its official opening in July that year.
The online luxury retail platform company created by José Neves aimed to create a technology hub in Braga with 150 staff.
“Braga is considered one of the youngest, most dynamic and innovative cities in the country and has all the right conditions to host Farfetch’s technology hub in the city. This new office is also synonymous with the continuation of our investment in Portugal and the importance of the country in the development of our operation”, said the former Farfetch managing director (Portugal), Luís Teixeira, at the time, and who has since left the company.
Coupang finalised its acquisition of Farfetch at the beginning of this month with a major restructuring plan that will involve the redundancy of at least 30% of its workforce, leading to 2,000 job losses; 1,0000 of which are in Portugal where the company employs 3,000 staff.