Cartier owner Richemont is selling its luxury eCommerce platform Yoox Net-a-Porter to online retailer Mytheresa. The $608 million deal, announced Monday (Oct. 7), ends a...
Yoox Net-A-Porter (YNAP) is reportedly exiting China amid weak consumer spending in that country. The Richemont-owned luxury eCommerce platform is moving to focus on its core and...
Luxury goods giant LVMH, best known for brands like Louis Vuitton, Dior and Tiffany, reported a 10% surge in sales for the fourth quarter on...
Inflation-pressured consumers tend to cut back on their luxury purchases. At least, that’s what PYMNTS Intelligence data has found. However, the demand for Richemont’s jewelry...
Struggling luxury retailer Farfetch has been purchased by Coupang, the South Korean eCommerce giant. The deal gives Coupang greater access to the personal luxury goods space, while offering...
After a year filled with surprising developments, Farfetch appears to be continuing its trend of unexpected moves. The online luxury retailer revealed this week that...
Cartier owner Richemont reportedly has no intention of investing in luxury retailer Farfetch. The company made that announcement Wednesday (Nov. 29) following the news that Farfetch could be...
The global perfume market is expected to grow to $69.25 billion by 2030. This promising trend has piqued Richemont’s interest, leading the company to invest...
China, once hailed as the savior of the luxury sector, is no longer providing the same support as before, at least for now. The industry...