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Richemont in advanced talks to further partnership with Farfetch

Reuters
FILE PHOTO: Movement plates for watches of Swiss watch manufacturer IWC are seen at its new factory in Schaffhausen

ZURICH (Reuters) - Richemont and British-Portuguese online fashion platform Farfetch are in advanced talks to further their partnership, the owner of jewellery house Cartier said on Friday.

Further progress has been made towards creating a neutral, industry-wide platform, Richemont said, with Farfetch investing directly in Yoox Net-A-Porter as a minority shareholder.

Other shareholders will be invited to participate, with the ultimate aim for Yoox Net-A-Porter to be a neutral platform, with no controlling shareholders, Richemont said.

(Reporting by John Revill; Editing by Clarence Fernandez)