Farfetch rushes luxury fashion retailer Net-A-Porter to be probed by competition watchdog
Probe: CMA investigating Farfetch deal to buy stake in Yoox Net-A-Porter
Regulators are probing a link between two online retailers that would create a single market for luxury goods.
The Competition and Markets Authority (CMA) is investigating Farfetch’s acquisition of a stake in Yoox Net-A-Porter, owned by the Swiss luxury group Richemont.
Richemont, whose brands include Cartier and Montblanc, sold 51% of Yoox to London rival Farfetch and Dubai-born businessman Mohamed Alabbar in August.
As part of the deal, Richemont secured an approximately 13% stake in Farfetch.
Richemont has been campaigning since 2015 for a “neutral” online marketplace for luxury brands.
The agreement paved the way for its creation. But it will need approval from the CMA, which is investigating whether it amounts to a merger