Previous question. With the recent sale and. Experts are tested by Chegg as specialists in their subject area. Richemont, which like many rivals in the watch industry and high fashion world has been slow to move into selling online, offered 38 euros per share for YNAP, an almost 26 percent premium to the e-commerce portal's closing price on Friday. Richemont, the Swiss luxury goods group, and Alibaba Group today announce a global strategic partnership to bring the retail offerings of YOOX NET-A-PORTER GROUP S.p.A. (YNAP), the world's leading online luxury retailer, to Chinese consumers. Who are the experts? Prior to the acquisition, e-commerce accounted for 1% of Richemont's total revenues, according to Grund. World-renowned Homo Faber opens its doors in Venice: discover this exceptional celebration of fine contemporary, traditional and rare craftsmanship ZURICH, Nov 12 (Reuters) - Richemont is in superior talks with on-line retailer Farfetch about promoting it a minority stake in loss-making Yoox Internet-a-Porter (YNAP) in a transfer more likely to appease traders important of the posh items agency.. Richemont, which owns manufacturers similar to Cartier and Piaget, mentioned on Friday it could additionally invite different companies in . Verified employers. Under the partnership, YNAP and Alibaba will establish a joint venture (JV) to launch two mobile apps . Was this related or unrelated diversification? ZURICH, Nov 12 (Reuters) - Richemont (CFR.S) is in advanced talks with online retailer Farfetch (FTCH.N) about selling it a minority stake in loss-making Yoox Net-a-Porter (YNAP) in a move likely. Other luxury-goods makers have shown strong interest in joining as well, the owner of Vacheron Constantin . YNAP provides a significant pipeline for Richemont's products, including timepieces. Richemont is pleased to announce that it received a Sustainalytics' ESG Risk Rating of 10.7, ranking the Group in the top 2% out of the 15 000 companies rated worldwide. By Jill Geoghegan 23 January 2018. There is "significant unrecognized value" within Richemont, Artisan Partners told The Wall Street Journal on Monday. South African businessman By Silke Koltrowitz ZURICH (Reuters) - Richemont is in advanced talks with online retailer Farfetch about selling it a minority stake in loss-making Yoox Net-a-Porter. World-renowned Homo Faber opens its doors in Venice: discover this exceptional celebration of fine contemporary, traditional and rare craftsmanship That raises questions about Richemont's strategy to expand its online platform. Richemont bought the roughly 50% of YNAP it did not already own almost four years ago, in a deal valuing the online business at just over 5 billion euros ($5.8 billion). On a reported basis, they were up 63% to 8.907 billion euros, also ahead of a forecast for 8.536 . Richemont's move to take over all of Yoox Net-a-Porter Group is almost complete after the vast majority of YNAP shareholders agreed to sell to the luxury giant.. Compagnie Financière Richemont . That raises questions about Richemont's strategy to expand its online platform. Last year when that deal was announced, Sanford C. Bernstein analyst Luca Solca said the alliance could be a precursor to Richemont spinning off YNAP and merging it with Farfetch or to selling it to Chinese e-commerce giant Alibaba. Now that the Swiss luxury group owns 100 per cent of YNAP, it has the option to sell it . Courtesy Photo. Richemont has invested heavily in YNAP, trying to make it less capital intensive by moving away from owning all of . In addition to selling YNAP, Rupert is also considering a capital raise of $100 million to bolster its operations. // Richemont announces "further progress" on its partnership with Farfetch// The advancement puts the two companies on track to cre. Oct. 20, 2021, 02:57 AM. Richemont has launched a voluntary tender offer on all ordinary shares of YNAP for up to 2.77 billion euros, proving how hot the pursuit of fashion-tech retailers has become. After Richemont purchased Net-a-Porter in 2010 for around $550 million, only to spin it out in a merger with Yoox and then buy back the combined company in 2018 for as much as $3.3 billion (then seen as a visionary move), YNAP has turned into a persistent headache for Richemont. Luxury giant Richemont is in talks to sell a stake in UK online platform Yoox Net-a-Porter (YNAP) to US rival Farfetch Limited (NYSE:FTCH). . (The YNAP group reported revenues of €2.1 billion [$2.52 billion] in 2017.) EUR2.69 billion is the value of the offer, not of Yoox Net-A-Porter . Sales in the six months to Sept. 30 accelerated to reach 8.91 billion euros ($10.2. ZURICH (Reuters) - Richemont is in advanced talks with online retailer Farfetch about selling it a minority stake in loss-making Yoox Net-a-Porter (YNAP) in a move likely to appease investors critical of the luxury goods firm. Along with all of the YNAP ecommerce platforms, Richemont will also soon own Watchfinder, a specialist in buying and selling pre-owned watches online and through a small network of physical shops in the UK. Leading luxury goods manufacturer Compagnie Financiere Richemont is in talks with investors to offload stakes in Yoox Net-a-Porter (YNAP), as the online distributor continues to rake in losses. Search and apply for the latest Automotive production jobs in Clifton, NJ. Richemont is reversing course on a solo effort to build a luxury e-commerce platform and is preparing to cede control of Yoox Net-A-Porter via a deal with web-shopping specialist Farfetch Ltd. Luxury giant Richemont is in talks to sell a stake in UK online platform Yoox Net-a-Porter (YNAP) to US rival Farfetch Limited (NYSE:FTCH). South African billionaire Johann Rupert. It added that other . Competitive salary. Luxury brand house Richemont's bid to buy Yoox Net-a-Porter Group will strengthen its position, boost its "online prowess", and safeguard its future in an increasingly online market, industry observers say. Although the strength of this group, YNAP has to be aware of its competitors like Amazon and Alibaba, colossuses of the e-commerce business. By May 8, 2022 franklin park, austin crime. The terms of the deal value YNAP as a whole at 5.3 billion euros, YNAP CEO Federico Marchetti said. Getting the loss-making e-tailer Yoox Net-a-Porter (YNAP) off its balance sheet has become a priority for Swiss luxury group Richemont and its chairman Johann Rupert. No Comments . Instead, he reiterated that Prada could be interested in taking a stake in a joint e-commerce venture that Cartier-owner Richemont and U.S.-listed online retailer Farfetch are discussing. Richemont is considering spinning off its Yoox Net-a-Porter (YNAP) brand, despite investing millions into the online fashion retailer.The Swiss-based luxury group which . YNAP aims to cover all major geographical luxury markets (incl. However, almost 40% its business is in watches, which do not earn good returns on capital . YNAP continues to drag. Expert Answer. as tfl reported at the time, a close read between the lines of the "global strategic partnership" - which saw alibaba and richemont invest $600 million ($300 million each) in farfetch limited, while also respectively ponying up $250 million for a combined 25 percent stake in a new farfetch china joint venture - seemed to suggest that the deal … The Swiss group, which owns brands such as Chloé . Swiss luxury group Richemont is allegedly making it a priority to drop its loss-making fashion e-commerce site Yoox Net-a-Porter (YNAP) a priority, according to sources. Full-time, temporary, and part-time jobs. Compagnie Financiere Richemont SA's struggling e-commerce business is holding back the Swiss luxury group's share price, according to one shareholder, adding to pressure for management to sell or spin off the unit. The terms of the deal announced in January valued YNAP as a whole at 5.3 billion euros, YNAP CEO Federico Marchetti said. ZURICH (Reuters) - Richemont is in advanced talks with online retailer Farfetch about selling it a minority stake in loss-making Yoox Net-a-Porter (YNAP) in a move likely to appease investors. Selling the division to Amazon.com Inc. is another possibility. Marchetti founded online retailer Yoox in 2000, then listed it and pushed through a merger with rival Net-a-Porter fifteen years later, before agreeing to a takeover by Cartier owner Richemont in 2018 which valued YNAP at 5.3 billion euros ($6.35 billion). Last year when that deal was announced, Sanford C. Bernstein analyst Luca Solca said the alliance could be a precursor to Richemont spinning off YNAP and merging it with Farfetch or to selling it . ZURICH (Reuters) - Richemont is in advanced talks with online retailer Farfetch about selling it a minority stake in loss-making Yoox Net-a-Porter (YNAP) in a move likely to appease investors critical of the luxury goods firm. By Silke Koltrowitz. On January 22nd Richemont, a Swiss luxury conglomerate that counts Cartier among its brands, offered to buy the shares it does not already own in Yoox-Net-a-Porter group (YNAP), a leading luxury . YNAP deal to 'future-proof' Richemont. Richemont, which owns brands such as Cartier and Piaget, said on Friday it would also invite other firms besides Farfetch to participate in turning YNAP into a neutral, industry-wide . 14 Apr 2022. Sales at the company's online distributors, led by Yoox Net-a-Porter, fell 42 per cent in the three months to June 30, a much worse performance than analysts had expected. On a reported basis, they were up 63% to 8.907 billion euros, also ahead of a forecast for 8.536 . Richemont's Jewellery Maisons performed particularly well, with sales up 67 percent on a year-over-year basis and by 36 percent compared to 2019 levels. For the other Maisons using fur, the WelFur certification is mandatory. But the most obvious potential buyer, Farfetch, has already rebuffed Richemont's approaches for an outright sale, the report said. Richemont, which on Friday reported interim results with sales ahead 63 per cent to €8.9 billion, announced that it wants to make YNAP a "neutral, industry-wide platform", a call that Johann Rupert has stated before. Free, fast and easy way find a job of 834.000+ postings in Clifton, NJ and other big cities in USA. "Richemont Says Italy Regulator Consob Approved Offer for YNAP," at 0632 GMT, assigned an incorrect value to the company. Compagnie Financiere Richemont is exploring options to offload its lossmaking e-commerce group Yoox Net-A-Porter (YNAP), according to an Oct. 17 article published by fashion blog Miss Tweed. The latter option would likely require several hundred million dollars in further investment. Richemont owns some excellent brands, particularly Cartier and VCA with good returns on capital. For an acquirer needing an instant online presence in the luxury goods space, Richemont's YNAP subsidiary could make sense. Richemont is considering divesting from its Yoox Net-a-Porter (YNAP) brand. Leading luxury goods manufacturer Compagnie Financiere Richemont is in talks with investors to offload stakes in Yoox Net-a-Porter (YNAP), as the online distributor continues to rake in losses. Alibaba, which has 49%, said the companies will explore further ways to cooperate. One deal under discussion could see Richemont cutting its stake in YNAP to below 50%, selling 25% to luxury marketplace Farfetch and the rest . Mono-brand YNAP empowers brands with a turnkey solution to establish their own online flagship store, assisted with the Company's e-tailing operations experience (customer . After Richemont purchased Net-a-Porter in 2010 for around $550 million, only to spin it out in a merger with Yoox and then buy back the combined company in 2018 for as much as $3.3 billion (then seen as a visionary move), YNAP has turned into a persistent headache for Richemont. News; About us Built for the long term, Richemont nurtures the distinctive craftsmanship, innovative spirit and creative inspiration of its Maisons and businesses. Sales at the company's online distributors, led by Yoox Net-a-Porter, fell 42 per cent in the three months to June 30, a much worse performance than analysts had expected. The overall carbon footprint for 2019 amounted to 284 227 tCO2e A year ago, Richemont and China's Alibaba Group Holding Ltd. agreed to invest in rival online store Farfetch Ltd. The news follows growing calls from shareholders and analysts for a sale or spinoff of the business. johann rupert richemont. Richemont also announced Friday it is in "advanced talks" with Farfetch to sell its minority stake in YNAP, which reported widening losses in the first half of the year despite . ZURICH - Richemont is in advanced talks with online retailer Farfetch about selling it a minority stake in loss-making Yoox Net-a-Porter (YNAP) in a move likely to appease . A year ago, Richemont and China's Alibaba Group Holding Ltd. agreed to invest in rival online store Farfetch Ltd. Richemont is considering spinning off its Yoox Net-a-Porter (YNAP) brand, despite investing millions into the online fashion retailer.The Swiss-based luxury group which . Transcribed image text: Question1: What was the strategic logic for Richemont to invest in YNAP? The Swiss-based luxury company, which bought control of YNAP in 2018, has made it a priority to remove YNAP from its brand, either by selling all or part of the business. Richemont could also seek to sell YNAP outright or invest further in turning it around. Richemont shares rose as much as 9.8% to a record Friday after the company also reported first-half earnings that beat estimates. Richemont . Richemont could also seek to sell YNAP outright or invest further in turning it around. The Cartier and Chloé owner has invited other investors . YNAP owns 51% of the venture. ZURICH (Reuters) - Richemont is in advanced talks with online retailer Farfetch about selling it a minority stake in loss-making Yoox Net-a-Porter (YNAP) in a move likely to appease investors . The luxury conglomerate is talking with interested parties besides Farfetch. YNAP became loss-making again by 2019, and a botched technology . . With YNAP consolidated in the group, that figure will jump to 17%, Grund says. I noted at the time that combining YNAP and Farfetch would be the most fitting endgame, particularly if that involved spinning off YNAP from Richemont. This impugns the brand's luxury . Richemont recognised as a Financial Times Climate Leader 2022 . Europe, North America, Asia) and all luxury fashion customer segments (mono-brand, in-season, off-season). Farfetch, a London-based luxury e-commerce company, is in advanced. Compagnie Financiere Richemont SA's struggling e-commerce business is holding back the Swiss luxury group's share price, according to one shareholder, adding to pressure for management to sell or. We review their content and use your feedback to keep the quality high. Some brands have been reluctant to join YNAP given that the platform is controlled by a . BERGIO INTERNATIONAL, INC. : News, Nachrichten und Informationen Aktie BERGIO INTERNATIONAL, INC. | A2PSXE | US0840804076 | OTC Markets Farfetch, a London-based luxury e-commerce company, is in advanced talks to buy a minority stake in Yoox Net-a-Porter, Richemont said Friday. There is significant online discounting just to move product. YNAP is the first online retailer of luxury goods and Compagnie Financière Richemont wants to address its financial resources to enhance YNAP's leadership through investments in product and technology. However, YNAP has many competitors. 14 Apr 2022. The goal is for the unit, known as YNAP, to be a neutral platform with no controlling shareholder. Selling the division to Amazon.com Inc. is another possibility. Richemont is in advanced talks with online retailer Farfetch about selling it a minority stake in loss-making Yoox Net-a-Porter (YNAP) in a move likely to appease investors critical of the luxury goods firm. In addition to selling YNAP, Rupert is also considering a capital raise of $100 million to bolster its operations. At 0830 GMT, Richemont shares were trading 7.8% higher at CHF132.15, having surged close to 10% at market open. Its total sales rose to 5.7 billion euros in the quarter to the end of December, up about 36% from before the. Richemont has hinted to analysts that it no longer regards YNAP as a strategic asset. Richemont already has bought a stake in Farfetch's Chinese business. Oct. 20, 2021, 02:57 AM. October 20, 2021 Richemont's priority is to remove YNAP from its brands, either by selling all or part of the business Richemont is considering spinning off its Yoox Net-a-Porter (YNAP) brand,. Richemont said sales rose 65% at constant currencies, helped by a very weak comparison base. I noted at the time that combining YNAP and Farfetch would be the most fitting endgame, particularly if that involved spinning off YNAP from Richemont. Richemont's watches business is improving and its fashion and accessories business, which has generally been a laggard, reported strong results the past few quarters. "It will strengthen YNAP's position as the world's leading online luxury retailer." "Richemont will gain much more traction in the Chinese online market," wrote Rene Weber, an analyst at Bank Vontobel AG. Job email alerts. LONDON - Richemont said Friday it is in "advanced" discussions to merge its YNAP platform with Farfetch, building on a high-profile partnership forged a year ago. YNAP will add more than €2 billion to Richemont's consolidated top line. Several Richemont's Maisons, including Cartier, Chloé, Montblanc and Peter Millar as well as YNAP have chosen to stop buying or selling fur. YNAP became loss-making again by 2019, and a botched technology . Now that the Swiss luxury group owns 100 per cent of YNAP, it has the option to sell it . Richemont said it is in talks to divest a stake in YNAP to British-Portuguese peer Farfetch Ltd. Other luxury players have also expressed interest in investing in the platform, Chairman Johann Rupert confirmed in a call with reporters. The Cartier and Chloé owner has invited other investors to participate in a potential sale, as the final goal is to make YNAP "a neutral platform, with no controlling shareholders". Richemont said sales rose 65% at constant currencies, helped by a very weak comparison base. . Richemont recognised as a Financial Times Climate Leader 2022 . Richemont in talks to sell stake in online business to Farfetch Richemont is in advanced talks with online retailer Farfetch about selling it a minority stake in loss-making Yoox Net-a-Porter. Richemont said it aims to expand the e-commerce business, which contributes 18% of its total revenue. Context News. Marchetti founded online retailer Yoox in 2000, then listed it and pushed through a merger with rival Net-a-Porter fifteen years later, before agreeing to a takeover by Cartier owner Richemont in 2018 which valued YNAP at 5.3 billion euros ($6.35 billion). The latter option would likely require several hundred million dollars in further investment. South African billionaire Johann Rupert. 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