MILAN – Compagnie Financière Richemont has launched a voluntary tender offer on all ordinary shares of the Yoox Net-a-porter Group SpA at 38 euros per share, for a value of up to 2.77 billion euros. Richemont plans to acquire 51 percent of YNAP shares it does not already own.
“With this new step, we intend to strengthen Richemont’s presence and focus on the digital channel, which is becoming critically important in meeting luxury consumers’ needs,” said Johann Rupert, chairman of Richemont. “We see a meaningful opportunity to strengthen further Yoox Net-a porter Group’s leading positioning in luxury e-commerce, growing the business in existing and new geographies, increasing product availability and range, and continuing to develop unparalleled services and content for today’s highly discerning consumers. As part of our Group, Yoox Net-a-porter Group would continue to operate as a separate business, ensuring it remains a neutral and highly attractive platform for third party luxury brands.”
The iconic Tiffany & Co. Fifth Avenue flagship will have a whole new look come 2021, reports @mistywhitesidell . The 10-story store is being expanded and renovated under the vision of chief artistic officer, Reed Krakoff. #wwdnews
“I feel like the [Emmy] nomination is this absurdly generous bonus to something that I’ve already been excited by for quite some time now,” Darren Criss tells @ktauer about his nomination for his role as Andrew Cunanan in The Assassination of Gianni Versace: American Crime Story, “My general attitude toward life is I hope for everything but expect nothing. But when you’re playing for the Warriors, there’s a good chance you’ll make it to the championships. And I’m not saying I’m Steph Curry, but when you’re on [showrunner] Ryan Murphy’s team, it seems more palpable than ever,” he continues. (Criss previously starred on “Glee,” another Murphy creation, although they didn’t directly work together.) “I feel like I’ve already won the lottery.” Read more in WWD.com (📸: @lexieblacklock ) #wwdeye #darrencriss #americancrimestory #emmys2018