Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Who owns the high street: Richemont

Includes Chloé, Yoox Net-a-Porter Group, Alfred Dunhill

Swiss luxury goods group Richemont owns brands including Chloé, Alfred Dunhill and Lancel. It is also the largest shareholder in etail group Yoox Net-a-Porter (YNAP) and is determined to take a larger slice of the pie. 

In January, Richemont launched a voluntary public tender offer to buy the 50% remaining ordinary shares in YNAP that it does not already own for €38 (£33) per share, valuing YNAP at €5.3bn (£4.6bn). 

Industry observers said the bid would boost Richemont’s online prowess and safeguard its future in an increasingly digital market. 

However, the bid has not been without its detractors. Long-term shareholder Robotti & Co, a US value investor that owns less than 1% of YNAP, reportedly voiced plans to vote against the takeover. 

In the year to 31 March 2016 sales at Richemont increased 6% to €11bn (£8.4bn).

 

 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.