A struggling luxury e-commerce retailer is marketing its downtown Los Angeles office for sublease at a notable discount.

Farfetch has put up roughly 24,000 square feet for sublease in The Bloc at 700 S. Flower St., according to CoStar data and marketing materials. The London-based company is offering 50% off the first year of rent as part of the sublease.

The listing comes about a month after South Korea e-commerce company Coupang said it would acquire Farfetch and its assets in a distress sale. Farfetch said its stockholders wouldn’t recover any outstanding investments as part of the deal, prompting the New York Stock Exchange to suspend trading of Farfetch shares.

Farfetch is a digital marketplace for luxury clothing and beauty products. The company's lease in Los Angeles runs through November 2029.

Sublease space has been on the rise since the start of the COVID-19 pandemic as companies rethink their physical footprints. However, the pace of sublease space hitting the market has slowed over the past year, according to CoStar data.

Roughly 1.6 million square feet of office space remains available for sublease in downtown Los Angeles, which is around 2.2% of the downtown office market, according to CoStar data.

The downtown Los Angeles office market's average rent is $38.18 per square foot, below the greater L.A. average of $41.52 per square foot. Meanwhile, the market's vacancy is 19.9%, above the greater L.A. average of 15.7%.

CBRE is marketing the space for sublease, according to listing materials.