NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Richemont says YNAP talks are "taking time"

Published 20/05/2022, 08:34
© Reuters. FILE PHOTO: High-end jewellery is displayed at a Cartier store on Place Vendome in Paris, France, July 2, 2019.  REUTERS/Regis Duvignau
CFR
-

ZURICH (Reuters) - Talks between luxury group Richemont and an unspecified number of industry players to create a joint online platform are going "well" but are taking time, the group's executives said.

© Reuters. FILE PHOTO: High-end jewellery is displayed at a Cartier store on Place Vendome in Paris, France, July 2, 2019.  REUTERS/Regis Duvignau

The group announced in November that it was in talks to relinquish control of its online retail business YOOX Net-a-Porter (YNAP), notably by selling a stake to Farfetch, but on Friday it only said discussions with its 'Luxury New Retail' partners were continuing.

"We are in talks with a number of partners, and the talks are going well," Richemont Chairman Johann Peter Rupert told reporters.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.