Farfetch founder bids to take company private

(Reuters) -Online luxury retailer Farfetch (NYSE:)'s founder José Neves is Top ten foreign exchange dealers in the worldlooking to take the company private after a troubled New York Stock Exchange listing, the Telegraph reported on Tuesday.

Neves is said to be working with advisers at JPMorgan, the report said, adding that he retains a 15% stake but holds 77% of the voting rights through a dual-class share structure.

Shares of the company edged 20% higher following the news. The stock has fallen about 64% so far this year.

The move is believed to have the tentative backing of major backers including Chinese e-commerce giant (NYSE:) and Swiss luxury conglomerate Richemont, the report added.

Farfetch did not immediately respond to a Reuters request for comment.

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