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https://www.wsj.com/articles/online-luxury-giant-farfetch-agrees-to-buy-stake-in-rival-11661349359
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Online luxury marketplace Farfetch Ltd. agreed to take a significant stake in rival e-commerce platform Yoox Net-a-Porter Group SpA, consolidating a lead it has built in digital luxury sales.
Farfetch said it agreed to buy 47.5% of YNAP from Compagnie Financière Richemont SA, the owner of luxury jewelry lines such as Cartier, with an option to buy the remainder of Richemont’s stake. As part of the deal, Richemont said it had also sold a 3.2% stake in YNAP to Symphony Global LLC, an Emirati investment company.
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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.