×
2 868
Fashion Jobs
SELFRIDGES
Sales Manager - Kids, Toys And Home
Permanent · BIRMINGHAM
URBN
Free People Assistant Visual Manager - Kings Road, London
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · KINGSTON UPON THAMES
WAITROSE
Security Partner
Permanent · COULSDON
URBN
Anthroplogie Visual Manager - Regent st, London
Permanent · LONDON
360 TALENT LONDON
Recruitment Consultant - Fashion Head Office
Permanent · LONDON
SHISEIDO
Nars Assistant Business Manager - Selfridges Exchange Sqaure (37.5 Hours)
Permanent · Manchester
LEVI'S
Ecommerce Project Manager
Permanent · London
VIVIENNE WESTWOOD
Legal Counsel
Permanent · LONDON
VIVIENNE WESTWOOD
E-Commerce Studio Operations Manager
Permanent ·
BOOHOO GROUP
Warehouse Operative
Permanent · BURNLEY
JOHN LEWIS
Loss Prevention Partner
Permanent · LEEDS
HEAD OFFICE
Digital Product Manager – Identity & Account
Permanent · BRACKNELL
JOHN LEWIS
Section Manager – Training
Permanent · MILTON KEYNES
ESTEE LAUDER
Clinique - Consultant - Boots, Staines - 11 Hours, 2 Days (Fixed Sunday + Another Day) - Part Time, Permanent
Permanent · Staines-upon-Thames
ESTEE LAUDER
Clinique - Consultant - Jlp Southampton - 35 Hours - 5 Days - Full Time, Permanent
Permanent · Southampton
ESTEE LAUDER
Clinique - Consultant - Marks & Spencer, Camberley - 18 Hours, 3 Days - Part Time, Permanent
Permanent · Camberley
ESTEE LAUDER
Clinique - Consultant - Marks & Spencer, Warrington - 11 Hours/Week - Part Time, Permanent
Permanent · Warrington
ESTEE LAUDER
Estée Lauder - Assistant Business Manager - Harrods, London - 37.5 Hours/Week - Full Time, Permanent
Permanent · Londres
ESTEE LAUDER
Clinique - Consultant - Boots - Aintree - Liverpool - 14 Hours / Week, Part Time, Permanent
Permanent · Liverpool
ESTEE LAUDER
Clinique - Assistant Business Manager - Harrods, London - 37.5 Hours, 5 Days - Full Time, Permanent
Permanent · Londres
ESTEE LAUDER
Clinique - Consultant - Brown Thomas, Limerick- 11 Hours - Part-Time, Permanent
Permanent · Limerick
Ads
By
DPA
Published
Jan 22, 2018
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Richemont shopping spree sees it snapping up all of Yoox Net-A-Porter

By
DPA
Published
Jan 22, 2018

Richemont seems to have made its mind up about its involvement in luxury online retail and it’s taking decisive action with a deal that will make it full owner of Yoox Net-A-Porter for €2.8bn. 


YNAP had a great Christmas and now it's getting an even bigger gift with a major cash injection from Richemont - Net-A-Porter



Less than three years ago, the luxury giant sold its stake in the Net-A-Porter business to Yoox with the deal seeing Richemont owning around 75% of the newly-merged, listed group.

It’s now offering €38 a share for the stocks it doesn’t already own and that price is over 25% above YNAP’s closing share price on Friday so we’re talking about a premium valuation for the business.

Barring unforeseen issues, the deal will actually happen, with Richemont saying that an irrevocable undertaking to accept the offer has been received from Federico Marchetti, CEO of YNAP.

Richemont would have been prevented from increasing its share of the group under the deal it struck when YNAP was formed in March 2015. But YNAP has waived that 'standstill obligation’ clause. 
Once the deal goes through, YNAP will no longer be a listed company.

BUSINESS TRANSFORMATION

The takeover will transform Richemont’s business that has previously been seen as being about high-end watches and jewellery, as well as individual fashion and lifestyle labels such as including Chloé, Alaïa and Lancel.

Not that YNAP will be merged into Richemont itself. The firm would continue to operate it as a separate company, which is no surprise given how buoyant treading at the business has been in recent periods. Trading has improved at Richemont itself too, but has still been less stable in recent years than YNAP where sales have continued on an almost-uninterrupted upward curve.

Marchetti said in a statement that Richemont wants to build on that growth with extra investment in a raft of areas such as tech, logistics, marketing and staff.


YNAP's luxury operations will be a sales boost for Richemont - Yoox Net-A-Porter



Richemont meanwhile added that it sees a meaningful opportunity to strengthen further YNAP's leading positioning in luxury e-commerce, “growing the business in existing and new geographies, increasing product availability and range, and continuing to develop unparalleled services and content for today's highly discerning consumers.”

WIDER LUXURY E-TAIL

The takeover will certainly raise the stakes in the online luxury retail sector where Farfetch is also expanding organically and through acquisition. It acquired Browns and the Condé Nast e-tail business formerly known as style.com, and other high-end physical store chains are also ramping up their online operations.

YNAP is benefitting from some of these activities as it operates the e-stores for labels including Armani and Isabel Marant. But competition is heating up. Many other luxury names are opening their own e-stores, physical department store chains are putting major investment into their webstores and smaller local boutique businesses are pursuing faster growth through online ops.

Interestingly, given that Farfetch is arguably YNAP’s biggest competitor, it’s mulling a giant stock exchange listing that will provide it with a vast pool of investment cash, just as YNAP is planning to de-list and get its own investment cash through private sources.

Copyright © 2022 Dpa GmbH