Amid a fast-shifting luxury e-commerce landscape, it appears the stakes have only risen for all the players involved in the deal — adding a new layer of urgency that things go off without a hitch.
The Swiss luxury group is spinning off Yoox Net-a-Porter in a joint venture with fashion platform Farfetch. What does it mean for Richemont, Farfetch, YNAP and the luxury industry at large? BoF dissects the deal.
The Swiss group will sell an additional 3.2 percent to Symphony Global, leaving YNAP without a controlling shareholder. The deal paves the way for Farfetch to potentially take control of the loss-making e-tailer, the companies said.
For years, the Swiss luxury group has lagged rivals in fashion and tech, and now finds its dominance in hard luxury under threat. What is chairman Johann Rupert’s end game?
The marketplace-turned-platform has emerged, finally, as the clear leader in the race to win luxury’s online shopper, with a path to profitability. What changed?