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Richemont to Sell 47.5% of Yoox Net-a-Porter to Farfetch

The Swiss group will sell an additional 3.2 percent to Symphony Global, leaving YNAP without a controlling shareholder. The deal paves the way for Farfetch to potentially take control of the loss-making e-tailer, the companies said.

A Net-a-Porter homepage displaying a Cartier ad. — Richemont to sell 47.5 percent of Yoox Net-a-Porter to Farfetch. (Shutterstock)

24 August 2022

E-commerce operator Farfetch and Symphony Global, the investment vehicle of Emirati real estate mogul Mohamed Alabbar, will acquire a 47.5 and 3.2 percent percent stake in Yoox Net-a-Porter (YNAP) respectively, from Cartier-owner Richemont, the companies said in a statement.

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