Italian luxury e-commerce YOOX in advanced discussions with PPR Group
Leading Italian e-tailer YOOX which already manages the online sales for 34 international luxury brands such as Armani, Gucci, Dolce Gabbana, Zegna, Marni, Bally etc is reported to be in advanced discussions with PPR Group, third largest international luxury group, parent company of Gucci, Bottega Veneta, Boucheron etc. Challenges magazine reports that the talks are of ”commercial” basis, however a conclusion has not been reached. Last year, Richemont Group, world’s second largest luxury group acquired British based Net A Porter for 430 million euros.
Yoox was founded in 2000, reaching a turnover of 291 million euros, with the ambit
ion of reaching a number of 50 major international luxury brands in its portfolio. Yoox sells through its own website or operates exclusively the e-commerce websites of the brands which are part of its portfolio. Earlier this year, Yoox launched a Chinese version of its website, accelerating its sales in China.