×
200
Fashion Jobs
EXPLODE SERVICES
Manager ie Garment Exports
Permanent · Noida
THE BANYAN HR CONSULTS
Merchandising Manager For a Seamless Garments Textile co at Coimbatore
Permanent · Coimbatore
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Vapi
GOKALDAS EXPORTS LTD
sr. Manager - Technical - Garments Industry Background
Permanent · Bengaluru
NIKE
Lead Technical Product Manager, ed&a – Apla
Permanent · Bengaluru
NIKE
Senior Security Incident Responder – Cis
Permanent · Bengaluru
FAABIIANA
Executive For Online Product & Order Management
Permanent · NEW DELHI
FAABIIANA
Customer Sales Executive (Female)
Permanent · NEW DELHI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Category Manager/sr. Manager-Institutional Sales - Garments Industry
Permanent · Bhiwandi
NIKE
Senior Technical Product Manager, Inventory & Order – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Finance – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Core Erp – Apla
Permanent · Bengaluru
OMREELS BIOSCOPE PVT LTD
Senior Executive Ecommerce
Permanent · MUMBAI
NIKE
Senior Technical Program Manager, Marketing Tech – Dtpo
Permanent · Bengaluru
NIKE
Service Delivery Manager, Operations Center – Tech Ops
Permanent · Bengaluru
NIKE
Director, Security Solutions & Delivery – Cis
Permanent · Bengaluru
NIKE
HR Manager - Nike India Technology Centre
Permanent · Bengaluru
NIKE
Financial Controller - India
Permanent · Bengaluru
NIKE
Software Engineering Manager, Finance & Procurement Technology – cf&c
Permanent · Bengaluru
NIKE
Service Delivery Manager, Sap & Omdl (Order Management & Delivery) – Tech Ops
Permanent · Bengaluru
NIKE
Service Delivery Manager, Batch & bi – Tech Ops
Permanent · Bengaluru
NIKE
Service Delivery Manager, HR/Finance & Payroll – Tech Ops
Permanent · Bengaluru
By
Fibre2Fashion
Published
Apr 21, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Yoox Net-a-Porter sells 4% stake to UAE retail major

By
Fibre2Fashion
Published
Apr 21, 2016

Yoox Net-a-Porter, an e-commerce group that calls itself the “world’s biggest luxury fashion store,” is getting a foothold in the a 100 million-euro stake sale to Alabbar Enterprises, the Dubai-based owner of Emaar Properties, which includes the Dubai Mall, the world’s most-visited luxury shopping mall.


Yoox Net-a-Porter is getting a foothold in the a 100 million-euro stake sale to Alabbar Enterprises.


“The world’s biggest online retailer is joining forces with the world’s biggest brick-and-mortar retailer,” Federico Marchetti, chief executive of Yoox Net-a-Porter, according to a report in The New York Times.

In a deal announced on Tuesday in Milan, Alabbar, which is controlled by Mohamed Alabbar, will pay 28 euros a share, a premium of 5.7 per cent on the closing share price of Yoox Net-a-Porter on Monday. The deal values the company at 3.7 billion euros ($4.2 billion). Richemont, the former parent of Net-a-Porter, will remain the group’s largest shareholder; Alabbar will have 4 per cent of ordinary shares.

It is the biggest move Marchetti has made since Yoox merged with Net-a-Porter in March 2015. Natalie Massenet, the founder of Net-a-Porter, who was expected to be executive chairperson, resigned from the group a few months later.

The company’s shares rose 7.4 per cent Tuesday morning in Milan, before paring their gains and closing at 27.80 euros, a 5 per cent increase.

The investment is also a vote of confidence in the future of Yoox Net-a-Porter without Ms. Massenet, who was widely seen as having the trust of the luxury world, and with Marchetti, who founded Yoox as an off-season sale site, cast in the role of corporate manager.

Marchetti said the money would be used to develop an integrated platform across the group’s brands, as well as to fund increased localization of websites, especially in Middle Eastern countries.

Copyright © 2022 Fibre2Fashion. All rights reserved.