Stories on fashion and luxury you won't read elsewhere

YNAP Series:2-What it takes to mend YNAP

By Astrid Wendlandt
02/10/22
Farfetch CEO José Neves and Richemont Chaiman Johann Rupert
Turning around Yoox-Net-A-Porter (YNAP) is the biggest challenge José Neves faces since launching Farfetch in 2008. The CEO of the luxury marketplace is walking a tightrope. Farfetch’s image and credibility in terms of strategy and execution are at stake. If Neves can’t improve the fortunes of the online fashion and luxury retailer, it may be that no one can. Five weeks after Farfetch announced the long-awaited deal to take on YNAP, the 48-year-old Portuguese entrepreneur is already working on preparing its integration. Farfetch has agreed to buy 47.5 percent of YNAP from luxury group Richemont and committed to buying a further majority stake if the online fashion and luxury retailer becomes profitable in three to five years from now. Folding YNAP into Farfetch is a pharaonic project.

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