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
Retail Bum

Retail Bum

Retail Bum

Retail Bum

Share
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.

MUST READS
Rue21 Appoints New Chief Executive Officer

Rue21 Appoints New Chief Executive Officer

Retail Bum March 22, 2023

U.S. retailer Rue21 has appointed Josh Burris as its new CEO and board member. Burris is expected to take over from Bill Brand, who announced his plans to resign from the role earlier this month. Burris comes to Rue21 from the health and nutrition company

Starbucks To Launch Olive Oil-Infused Coffee in a Few Locations in the U.S.

Starbucks to Launch Olive Oil-Infused Coffee in the US

Retail Bum March 23, 2023

Starbucks is bringing its Oleato coffee line to the United States a month after launching it across 24 locations in Italy. The company’s plan to introduce Oleato, which means “with oil” in Italian, was the brainchild of former CEO Howard Schultz, who traveled to Italy during

No more posts to show, explore other topics:

Retail

Fashion

Beauty

Ecommerce

Marketing