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Richemont Is Seeking To Divest From Yoox Net-A-Porter

Richemont Is Seeking To Divest From Yoox Net-A-Porter

Richemont Is Seeking To Divest From Yoox Net-A-Porter

Richemont is seeking to divest its stake in eTailer Yoox Net-a-Porter (YNAP) — an effort that has become a key property for the company’s chairman Johann Rupert.

The company’s decision comes at a time when YNAP is continuing to lose market share to Farfetch, which saw a $300 million investment from Richemont last year.

One of the options Richemont is considering includes the creation of a consortium wherein Farfetch and Alibaba will be minority investors in YNAP. However, Farfetch CEO José Neves is balking at the idea and is not keen on making investments in the company, Miss Tweed reported.

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