What the Farfetch-Richemont deal clearance means for luxury e-commerce24 Oct 2023—Glossy
According to the antitrust ruling from the European Union on October 23, Farfetch can proceed with its acquisition of a 47.5% stake in Richemont-owned fashion e-commerce company Yoox Net-A-Porter.
At the time the potential deal was announced in August 2022, Richemont chairman Johann Rupert said the acquisition would be a step towards his ambition of building an “independent neutral online platform for the luxury industry”.
The E.U. decision was one of the biggest contention points holding up...