Why Now for YNAP? Farfetch’s Acquisition of YOOX Net-A-Porter Group Empowers Richemont To Focus on Jewelry and Watches

What's Inside

In August 2022, Compagnie Financière Richemont (Richemont) sold just over 50% of the YOOX Net-A-Porter Group (YNAP) to Farfetch, an online luxury retail platform, and Symphony Global, an investment vehicle of Mohamed Alabbar. In this report, we unpack the deal and discuss the implications for all parties involved, including:

• How the deal alleviates pressures on Richemont’s profitability
• How the acquisition scales Farfetch’s operations and reach
• How the deal will create synergy between the two companies as Richemont adopts Farfetch’s FPS (Farfetch Platform Solutions) technology and opens e-concessions on the platform

For more on the future of Richemont and other major European luxury brands, read Coresight Research’s report on the European luxury market, Market Outlook: Europe Luxury Sees Bounceback Sustained. Click here for all our coverage on e-commerce platforms, including Farfetch.