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    Swiss Richemont and luxury group Farfetch expand partnership

    Richemont of Switzerland announced that progress has been made towards creating a neutral industry-wide platform built on the latest omni-channel retail technology to support the digitization of luxury industries. .. In this regard, Richemont is in high-level discussions with Farfetch to strengthen the partnership established last year.

    Farfetch invests directly in Yoox Net-A-Porter as a minority shareholder and is invited to join other investors. Yoox Net-A-Porter leverages the Farfetch platform solution to support the ongoing transition to a hybrid 1P / 3P business model. According to Richemont’s press release, Richemont Maisons is leveraging Farfetch technology to accelerate luxury new retail development.

    Richemont Maisons has joined the Farfetch Marketplace. Other industry players and investors are interested in investing in Yoox Net-A-Porter alongside Richemont and Farfetch. The ultimate goal is that Yoox Net-A-Porter is a neutral platform with no controlling shareholders.

    Richemont of Switzerland announced that progress has been made towards creating a neutral industry-wide platform built on the latest omni-channel retail technology to support the digitization of luxury industries. .. In this regard, Richemont is in high-level discussions with Farfetch to strengthen the partnership established last year.

    Richemont continues to work with Farfetch to reach a final agreement and will provide updates as needed. I am not sure if the discussion will lead to a final agreement, as well as the timing and terms of the transaction. All transactions are subject to permission from the relevant antitrust authorities.

    Fiber2Fashion News Desk (GK)

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    Swiss Richemont and luxury group Farfetch expand partnership

    Source link Swiss Richemont and luxury group Farfetch expand partnership

    The post Swiss Richemont and luxury group Farfetch expand partnership appeared first on Eminetra.

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