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Richemont to sell 47.5% of Yoox Net-a-Porter to Farfetch
Big moves are being made in fashion today. It was revealed that the Swiss luxury group Richemont has finalized a deal, with plans to sell a majority stake in its Yoox Net-a-Porter (YNAP) platform to Farfetch and Mohamed Alabbar. More specifically, the conglomerate, owner of labels such as Cartier, IWC, and Van Cleef & Arpels, will complete a landmark transaction, which will see Farfetch and Alabbar acquire a 47.5% stake, and 3.2%, respectively, in YNAP. Farfetch will then acquire 100% of YNAP in three years’ time. As part of the complex deal,
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