Following the announcement of Richemont’s deal to spin off YNAP in a joint venture with Farfetch, Loehnis will take up the role of interim chief executive of the loss-making e-commerce group on Oct. 31.

Loehnis, currently president of Net-a-Porter, Mr Porter and The Outnet, will lead the company until parent Richemont completes the sale of a 50.7 percent stake to Farfetch and real estate mogul Mohamed Alabbar. On completion of the deal, which is expected to close before the end of the year, a new CEO will be appointed.

Loehnis will succeed Geoffroy Lefebvre, who is leaving to pursue entrepreneurial opportunities outside of Richemont Group.

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Richemont, Farfetch and YNAP: Understanding a Transformational E-Commerce Deal

The Swiss luxury group is spinning off Yoox Net-a-Porter in a joint venture with Farfetch. What does it mean for Richemont, Farfetch, YNAP and the luxury industry at large? BoF dissects the deal.