The big watch brands need to be everywhere if they want to capture a new audience.
Net proceeds will be used for the group’s general corporate purposes and may fund the acquisition of YNAP.
Richemont will publish its offer document on March 18.
The market may be awash in liquidity, but not all companies will swim in the riches.
Italy’s stock market regulator Consob has reopened its review of Richemont’s offer for 100 percent of the shares in Yoox Net-a-porter Group.
The luxury e-tailer stands by its five-year plan as it continues to invest in technology, leveraging all geographic markets and business channels.
All business channels and geographics markets fueled the growth.
The process will only slightly delay its review of Richemont’s offer document for YNAP.
The entrepreneur, who has a stake in YNAP through his Red Circle Investments, said it was a “fantastic operation.”
By joining the program, the online luxury retailer brings coding classes to primary and secondary schools in London and Bologna, aiming to raise awareness and increase access to digital education.
The ceremony for the consignment of the Knight of Labour title was hosted in Rome on Nov. 30.
Orders on the online luxury fashion destination peaked at one every 0.8 seconds on Black Friday.