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Richemont restarts search for new owner for YNAP, Retail News, ET Retail


<p>Richemont</p>
Richemont

ZURICH: Richemont has restarted its attempt to offload its online fashion and accessories retailer Yoox Net-A-Porter (YNAP), Chief Financial Officer Burkhart Grund said on Thursday after the Cartier owner posted its Q3 results.

“We’re preparing the process to identify a future majority shareholder or a majority that can go up to 100% for YNAP,” Grund told analysts.

“How long will it take? I don’t know. We see interest unsolicited today from a number of places, but we can update once we’re further down the road,” he added.

Richemont in December scrapped an agreement to sell part of YNAP to online luxury retailer Farfetch Holdings.

  • Published On Jan 19, 2024 at 02:43 PM IST

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