Cartier owner Richemont and Farfetch are getting closer to a deal on the future of online fashion retailer YOOX-Net-A-Porter (YNAP), sources close to the two companies have said. A deal with Farfetch would involve giving Richemont a small minority stake in the luxury online platform in return for absorbing YNAP.
The emergence last week of activist fund Bluebell Capital Partners challenging Richemont’s governance could speed up talks, the sources said. Bluebell has been putting pressure on Richemont to sell some of its lossmaking businesses such as YNAP. On July 20, the fund attacked the authority and control of Johann Rupert, chairman of Richemont, requesting changes to the group’s by-laws. It also wants Richemont to elect Francesco Trapani, former LVMH executive and Bulgari CEO, to its board. However, Rupert is more likely to come to an agreement about selling YNAP to Farfetch than accepting Trapani on the group’s board, sources close to the matter have said. Miss Tweed has the details.
This article is for subscribers only
True journalism, like goldsmithing and embroidery, relies on expertise.
Miss Tweed only focuses on proprietary information and analysis. By subscribing, you support a team of journalists who work only for you. Our mission is to bring you reliable and accurate information on the luxury and fashion industry which, in 40 years, has become one of the pillars of the global economy.
A Year in the News 2021-2022 is a compilation of Miss Tweed's stories published online during its second year. Like the first yearbook, it is a limited edition. Hence, it is a collector's item. It is designed to celebrate the work of illustrator Claire Laude. Each illustration runs next to the first two paragraph of the story.
This book is a compilation of Miss Tweed’s stories during its first year. The digital revolution, the closely guarded secrets of LVMH, Richemont and Kering and the future of watchmaking are among the many topics Miss Tweed covered between the summer of 2020 and the summer of 2021.
Author and journalist Astrid Wendlandt conducted a four-year investigation into the
secretive world of fashion and luxury involving hundreds of interviews with top executives and
Comment l’industrie du luxe et de la mode, quasi-inexistante il y a quarante ans, est
devenue une puissance mondiale ? Dans cette anthropologie du glamour, la journaliste Astrid Wendlandt
épingle ses super-héros et analyse ses contradictions.