Richemont has come to an agreement for Mytheresa to acquire its online YNAP business, including Net-A-Porter, Mr Porter, Yoox and Outnet brands.
Tag Archives: Richemont
Aspirational Consumers Pull Back, Driving Down Luxury Leaders’ U.S. Sales
The leading global luxury brands showed topline gains for the first half of the year, despite a drop in sales in the U.S., where aspirational consumers are stretched thin and have cut back on indulgent purchases.In most recent reporting, all but Kering showed outstanding topline gains – LVMH was up 15% to $46.5 billion and […]
Farfetch Gets Closer To Being The ‘Amazon of Luxury’ Through Its Richemont-YNAP Deal
Farfetch and investors have been through a whirlwind recently. First, Farfecth announced an agreement to acquire 47.5% of Richemont’s YOOX Net-A-Porter (YNAP) online fashion group along with replatforming most of Richemont’s Maisons, including Cartier, Van Cleef & Arpels and Piaget, under Farfetch Platform Solution (FPS). Then a day later, it reported second-quarter earnings.It’s going to […]
New Luxury, Old Luxury; Real Luxury, Faux Luxury — What’s a Brand to Do?
The latest news cycle has revealed chasms growing in the land of luxury: In late July, LVMH, home of storied Louis Vuitton brand, reported that first half 2016 sales of its flagship fashion and leather luxury goods segment dropped .8% from same period last year. Then, on the cusp of NY Fashion Week, Tim Gunn […]
