Richemont wants to gain full control over Yoox Net-a-Porter | RetailDetail

Richemont wants to gain full control over Yoox Net-a-Porter

Richemont wants to gain full control over Yoox Net-a-Porter

Swiss luxury group Richemont proposed to obtain a majority stake in online retailer Yoox Net-a-Porter. The move is a way to implement its online strategy faster.


Board will remain

Richemont currently has 49 % of Yoox Net-a-Porter’s shares, but would like to increase that to at least 90 % and then delist the company. It has offered 38 euro per share, more than 25 % above the share’s price on Friday.


The online group’s current CEO, Federico Marchetti, has already accepted the offer, but will stay on after the acquisition. Richemont has also stated that Yoox Net-a-Porter will continue to operate as an independent company after the deal. “We are very pleased with the results achieved by Yoox Net-a-Porter group’s management team, led by Federico Marchetti, and we intend to support them going forward to execute their strategy and further accelerate the growth of the business”, Richemont chairman, Johann Rupert, said.


Richemont has recently turned its attention to online sales, because it has noticed that customers are willing to buy expensive products online, a trend other luxury brands have also observed. A Yoox Net-a-Porter acquisition would go a long way to achieving its goal in the online world. The company recently revealed a record 2.1 billion euro turnover in 2017, up 11.8 % compared to the year before. 

Questions or comments? Please feel free to contact the editors

Gerelateerde items

WE keeps net profit stable despite lower turnover


Dutch fashion group WE International saw its turnover drop 2.8 % to 275.8 million euro, but its net profit remained stable because of the selling of real estate.

Sports Direct buys bankrupt chain House of Fraser


Sports Direct owner Mike Ashley has bought British department store chain House of Fraser, just hours after the 169 year old chain filed for bankruptcy.

Decathlon acquires Swiss competitor Athleticum


French Decathlon has acquired Swiss sports store chain Athleticum from Maus Frères, who in return receive a minority stake in Decathlon Switzerland and an undisclosed fee.

Adidas wins in World Cup football


German sports brand Adidas has had a victorious quarter because of the World Cup football. Total turnover rose 4 % to 5.26 billion euro, a hefty 3.2 billion coming from shoe sales. Operational profit climbed 17 % to 592 million euro.

Conversional commerce: tried, but failed


Only 0.2 % of all Amazon Echo owners in the United States have actually bought something using their smart speakers. Is the technology worthless, or just not ready yet?

Record turnover for Schoenen Torfs


Belgian shoe store chain Schoenen Torfs has seen its turnover grow 7.6 % in 2017, but the company had to admit to a 9 % decrease in net profit. CEO Wouter Torfs aims for further growth online, in Wallonia and through cooperation with sneaker chain The Athlete’s Foot.