1. News
May 11, 2018

Richemont completes acquisition of Italian retailer YNAP

Switzerland-based luxury goods holding company Richemont has completed the acquisition of Italian online retailer Yoox Net-a-Porter (YNAP) Group.

Switzerland-based luxury goods holding company Richemont has completed the acquisition of Italian online retailer Yoox Net-a-Porter (YNAP) Group.

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Announced in January this year, the transaction secured approval from the Italian stock market regulator, Consob, during March.

The transaction is reportedly valued at €2.8bn for remaining stake (around 70%) to be acquired and €5.3bn for the entire group.

"YNAP powered by Richemont will be truly unbeatable."

Richmont already owns around 23% stake in YNAP and will own around 95% of stake following this transaction.

YNAP founder and CEO Federico Marchetti said: “YNAP powered by Richemont will be truly unbeatable. Our solid track record of growth has made us #1 in online luxury. Together with Richemont, we will invest even more in product, technology, logistics, people and marketing.

“We will accelerate our global growth and guarantee YNAP’s long-term leadership. We started the business long before anyone else believed luxury could move online.

“It’s been a journey fuelled by the creativity and courage of so many people. I’m grateful to the entire YNAP team for their hard work, and to all of the customers, partners and friends who have supported us along the way.”

YNAP is an online luxury fashion retailer that operates multi-brand in-season online stores, such as Net-APorter and Mr Porter as well as off-season online stores such as Yoox and The Outnet.

The company currently has presence in the US, Europe, Middle East, Japan, China and Hong Kong and offers services to more than 180 countries globally.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
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