Richemont frees itself from half its online problem child
Sale of 47.5% stake in online YOOX Net-A-Porter comes amid criticism of the luxury goods company’s ownership structure
24 August 2022 - 11:04
UPDATED 24 August 2022 - 22:50
Luxury goods retailer Richemont has sold just over half of its loss-making online retailer YOOX Net-A-Porter (YNAP), a move that comes amid criticism from European activist shareholder Bluebell about that division.
The luxury group chaired by billionaire Johann Rupert said Farfetch, a British-Portuguese online luxury retailer, will buy 47.5% of the fashion retailer and Middle Eastern partner Alabbar will buy 3.2%...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.