Richemont: EU approves deal with Farfetch
(CercleFinance.com) - Richemont announced on Monday that the European Commission had approved Farfetch's proposed acquisition of a stake in its online ready-to-wear subsidiary Yoox Net-A-Porter (YNAP).
This strategic agreement states that Farfetch will take over 47.5% of the capital, while Emirati businessman Mohamed Alabbar will take 3.2%, leaving Richemont with a 49.3% stake in YNAP.
The various Richemont houses are also set to adopt Farfetch's technology, a specialist in online sales of luxury goods, across all their distribution channels.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
This strategic agreement states that Farfetch will take over 47.5% of the capital, while Emirati businessman Mohamed Alabbar will take 3.2%, leaving Richemont with a 49.3% stake in YNAP.
The various Richemont houses are also set to adopt Farfetch's technology, a specialist in online sales of luxury goods, across all their distribution channels.
Copyright (c) 2023 CercleFinance.com. All rights reserved.