Last year, luxury goods giant Richemont agreed to sell its 47.5% stake in Yoox Net-A-Porter to fellow online fashion platform Farfetch.
Britain's competition watchdog on Tuesday said it was seeking comment on whether Richemont's deal to offload most of its online fashion retailer YOOX Net-A-Porter (YNAP) to Farfetch could harm competition in the UK. If completed, the deal announced last August would clear the way for Richemont's labels to sign up for technology run by luxury e-commerce specialist Farfetch. The Competition and Markets Authority said it was considering if the anticipated acquisition by Farfetch of a shareholding and certain rights over YOOX Net-A-Porter Group may lead to a "substantial lessening" of competition within any market or markets in Britain.
LONDON, January 18, 2023--FARFETCH, the leading global platform for the luxury fashion industry, today announces changes to its leadership team.