aDeal Tag

It was the yr that Richemont moved on.  After years of carrying the loss-making Yoox Net-a-porter Group and listening to analysts and shareholders bemoan its drag on Compagnie Financière Richemont’s balance sheet, Johann Rupert finally struck a deal to sell a majority stake to Farfetch and Alabbar.  The complex deal will see the Richemont chairman realize his dream of remodeling YNAP right into a neutral, industry-wide platform, with no controlling shareholder. It's going to also shift toward a hybrid model with help from Farfetch Platform Solutions, a white label tech service for retailers of each size and scale. As a part of the package, FPS will give the Richemont-owned Cartier, Van Cleef & Arpels, Chloé and other brands the digital firepower to enhance...