Now Reading
Richemont considers selling Yook Net-a-Porter

Richemont considers selling Yook Net-a-Porter

View Gallery

Richemont is considering selling off its Yoox Net-a-Porter brand, either by selling all or part of the business, despite having invested millions in the online fashion retailer. The reason for this is that the online shopping platform is losing its appeal to competitors such as Farfetch.

 

According to reports, activist investor Dan Loeb of Third Point has taken a stake in Richemont, owner of Cartier and Yoox Net-a-Porter among others. The investor has given only scant information about his attentions, but if his previous campaign at Swiss company Nestle is anything to go by, changes in the Richemont group’s portfolio are expected.

 

The group’s priority is to get rid of Yoox Net-a-Porter, an online sales platform that has been loss-making since the pandemic and is losing ground to its main competitors. The aim of this manoeuvre is to boost the share price of the Richemont group.

 

See Also


[…]

This article is reserved for subscribers.

Subscribe now !

Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…

Already have an account ? Please log in.

Featured photo : © Richemont

What's Your Reaction?
Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

COPYRIGHT 2021 LUXUS + ALL RIGHTS RESERVED

Scroll To Top