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 more profitable markets, Bloomberg reported Friday (June 14), citing an emailed statement from a Richemont spokesperson. The Net-A-Porter platform was launched in...
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 Farfetch $500 million to remain in operation, the companies announced Monday (Dec. 18). “Farfetch is a landmark of the luxury landscape and...
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 considering becoming a private company, Reuters reported. Those reports said Farfetch founder Jose Neves was weighing the move following a rocky...
Today in Europe, the Middle East and Africa, Mastercard announced an investment in Egypt’s FinTech-focused venture capital platform nClude and HSBC launched a new digital receivables finance solution. HSBC, Trade Ledger Launch Digital Receivables Finance Tool London-based Lending-as-a-Service FinTech Trade Ledger on Tuesday (Oct. 11)...
October 07, 2024
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 monthslong search by Richemont for a new owner for Yoox Net-a-Porter (YNAP). “Mytheresa and YNAP have each earned a strong reputation in the luxury industry for their pioneering roles in […]
June 14, 2024
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 more profitable markets, Bloomberg reported Friday...
December 19, 2023
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 Farfetch $500 million to remain in operation,...
November 29, 2023
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 considering becoming a private company, Reuters...
