Richemont: rumours of a sale of YNAP weigh on share
(CercleFinance.com) - Richemont shares fell significantly on Monday morning in Zurich (currently down about 1.
7%), weighed on by rumours of a potential sale of its subsidiary that sells major brands on the Internet.
According to Miss Tweed, a news blog dedicated to luxury and fashion, the Swiss group is considering several options to divest its loss-making Yoox-Net-A-Porter (YNAP) e-commerce business.
The Swiss group has accepted the fact that YNAP has lost the technology race, despite the considerable sums that it has invested in it over the years, the digital media outlet says, which cites several closely related sources.
According to Miss Tweed, Richemont would like to bring its subsidiary closer to the luxury marketplace Farfetch, but the latter's CEO, José Neves, is said to be opposed to attempts by Richemont's boss Johann Rupert to force his hand in investing in YNAP.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
7%), weighed on by rumours of a potential sale of its subsidiary that sells major brands on the Internet.
According to Miss Tweed, a news blog dedicated to luxury and fashion, the Swiss group is considering several options to divest its loss-making Yoox-Net-A-Porter (YNAP) e-commerce business.
The Swiss group has accepted the fact that YNAP has lost the technology race, despite the considerable sums that it has invested in it over the years, the digital media outlet says, which cites several closely related sources.
According to Miss Tweed, Richemont would like to bring its subsidiary closer to the luxury marketplace Farfetch, but the latter's CEO, José Neves, is said to be opposed to attempts by Richemont's boss Johann Rupert to force his hand in investing in YNAP.
Copyright (c) 2021 CercleFinance.com. All rights reserved.