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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