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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).

 

 

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