Switzerland's Richemont & luxury group Farfetch extend partnership

Farfetch is investing directly in Yoox Net-A-Porter as a minority shareholder, with other investors to be invited to participate alongside. Yoox Net-A-Porter is leveraging Farfetch platform solutions to support its ongoing transition to a hybrid 1P/3P business model. Richemont Maisons is leveraging Farfetch technology to accelerate their luxury new retail developments, according to a press release by Richemont. 

Richemont Maisons has joined the Farfetch marketplace. Other industry players and investors have already indicated their interest in investing in Yoox Net-A-Porter alongside Richemont and Farfetch. The ultimate objective is for Yoox Net-A-Porter to be a neutral platform, with no controlling shareholders.

Richemont continues to work with Farfetch towards definitive agreements and will provide an update in due course, if and when appropriate. There can be no certainty that the discussions will lead to definitive agreements, nor as to the timing or terms of any transaction. Any transaction would be subject to the receipt of clearances from relevant anti-trust authorities.

Fibre2Fashion News Desk (GK)