What the Richemont-Yoox Net-a-Porter Deal Means for Online Luxury Retail

In The Daily Scoop by Lauren Parker, Accessories Magazine

At $3.4 billion, Richemont’s offer to buy online luxury group Yoox Net-a-Porter is a pricey sign of the times. Competition to embrace digital e-commerce and technology has defined the growth strategies of other luxury groups, Kering and LVMH, as Richemont has stayed behind. Yoox Net-a-Porter, meanwhile, has two online luxury rivals in Farfetch and MatchesFashion — the former is most like headed to an IPO this year, while the latter sold to private investors for $1 billion in September. And among the pressure of increased competition, businesses feel stronger together. Read more at Glossy

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