The move united two of the biggest groups in luxury in common cause and potentially formed a bridge between two of the dominant luxury e-commerce platforms: Farfetch and Yoox Net-a-Porter, also owned by Richemont. “A supreme luxury e-commerce group is a compelling idea, but no one so far has been able to pull it off,” he said. Luxury brands were late to embrace e-commerce. “Luxury e-commerce is now in an environment of rapid mutation,” said Claudia D’Arpizio, a luxury consultant at Bain. Now that Richemont (alongside Kering) appears to be hedging its bets, speculation has grown around the possible creation of a luxury e-commerce group with critical mass and ties to both the conglomerates and Asia.

Source: bd News24 November 30, 2020 06:11 UTC