Richemont sells part of the capital of Yoox


The luxury group will separate from just over half of YNAP’s capital. A strategic operation which aims to accelerate the growth of the distributor’s platforms but also to strengthen the online presence of the Richemont houses.

Farfetch and Alabbar to the capital of YNAP.

While rumors of the sale of the online ready-to-wear distributor YOOX Net-A-Porter (YNAP) had been going strong since last spring, these prospects are confirmed for this start of the 2022/2023 school year.

In a press release published this Wednesday, August 24, the Richemont group announces a 47.5% stake in YNAP by the e-retailer Farfetch. Another 3.2% will be acquired by the businessman Mohammad Alabbar through its Symphony Global investment structure. “This agreement also paves the way, through a put and call option mechanism, for Farfetch’s potential acquisition of the remaining shares of YNAP.“says the direction of Richemont.

A new step in favor of Luxury New Retail.

This initiative aims to stimulate YNAP’s platforms: over the period from April to June, Richemont’s “Online Distributors” activity was limited to growth of +2% at constant exchange rates.

While Richemont and Farfetch had already joined forces with e-commerce giant Alibaba to boost their so-called “Luxury New Retail” strategy in China, this new organization will also allow the Swiss group to rely on Farfetch solutions. to strengthen the online presence of its houses.

In addition to optimizing their own e-retail, many of Richemont’s brands – including AZ Factory and Chloé – will soon join the Farfetch marketplace through “e-dealers”. The group also announced that it wanted to use this same strategy to boost the digitalization of its jewelery and watchmaking portfolio, which notably includes Cartier, Van Cleef & Arpels, Piaget and Jaeger LeCoultre. A decisive orientation when, at the end of its last annual financial year established from March 2021 to March 2022, the jewelry segment of Richemont recorded a turnover up by +49%, to more than 11 billion euros, where watchmaking saw its sales jump of +53%, to 3.4 billion euros.


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