The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
ZURICH, Switzerland — Swiss luxury goods group Richemont has clinched its takeover offer for Yoox Net-a-Porter (YNAP) by garnering more than 95 percent of the Italian group's shares, the companies said on Friday.
Cartier owner Richemont, which like many rivals in the watch industry and high fashion world has been slow to move into selling online, had offered 38 euros per share for YNAP. The stock closed on Thursday at just below that level.
The offer valued YNAP at €5.3 billion (£4.6 billion).
By Michael Shields.
The company is also fighting claims from another private civil lawsuit that said the company has stifled competition for shipping and fulfilment services.
Striking Hollywood screenwriters reached a tentative new labour agreement with studios, including Walt Disney Co. and Netflix Inc., settling one of two walkouts that have shut down film and TV production.
On Friday 29 September, The BoF 500 Class of 2023 will be unveiled. To mark the occasion, The Business of Fashion sat down with four members of The BoF 500 to discuss how they are shaping the future of the industry.
Joining an already outstanding lineup including Chanel’s global chief executive officer Leena Nair, Bottega Veneta’s creative director Matthieu Blazy, and John C. Jay, president of global creative of Fast Retailing, we are delighted to reveal the latest roster of speakers joining us at BoF VOICES 2023.