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Reuters

Swiss luxury goods group Richemont has clinched its takeover offer for Yoox Net-a-Porter (YNAP) by garnering more than 95 per cent of the Italian group’s shares, the companies said today.
Yoox Net-a-Porter CEO Federico Marchetti dreams of selling Ferraris online one day
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 (US$44.50) per share for YNAP. The stock closed on Thursday at just below that level.
The offer valued YNAP at 5.3 billion euros.
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Richemont snaps up 95 per cent of Yoox Net-a-Porter’s shares

Branding is seen on the clothing of an employee of online clothing retailer Yoox Net-a-Porter at its Tech Hub premises in White City in London, Britain. Richemont has clinched its takeover offer for Yoox Net-a-Porter (YNAP) by garnering more than 95 per cent of the Italian group’s shares. Photo: Reuters

Richemont seeks to buy Yoox Net-A-Porter for €2.8 billion

Owner of a number of luxury brands is hoping to take control of YNAP and sees an opportunity to strengthen YNAP’s position in luxury e-commerce

Richemont has offered up to US$3.42 billion to buy the shares in Yoox Net-A-Porter that it does not already own. Photo: Reuters

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The Swiss group, which has been slow into selling online, is beginning to embrace the digital world


Fashion

Richemont snaps up 95 per cent of Yoox Net-a-Porter’s shares

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}The Swiss group, which has been slow into selling online, is beginning to embrace the digital world

The Swiss group, which has been slow into selling online, is beginning to embrace the digital world