Johann Rupert, chairman at Swiss fashion conglomerate Richemont, has
approached rival firms Kering and LVMH to band together in order to develop
a luxury e-commerce platform which can compete with online marketplaces
such as Amazon.
The South African billionaire revealed he has had discussions with Bernard
Arnault, chairman at LVMH and executives at Kering about joining together
with the part-Richemont owned Yoox-Net-a-Porter platform. During a
conference in Monaco yesterday he said luxury-goods producers need more
weight in e-commerce to survive against increasing competition.
Speaking at the Financial Times Business of Luxury event in Monte Carlo,
Rupert said: “We’re not big enough. What I said to them was they can come
in and get equity in the company” if they commit to selling their brands on
the platform, according to Bloomberg. Richemont aims to create a platform
which is open to luxury brands, including privately owned Chanel.
The news comes not long after Yoox and Net-a-Porter revealed plans to merge
earlier this year, which have combined annual sales of 1.3 billion euros
(924 million pounds) in comparison with Amazon, which made 89 billion
dollars (57 billion pounds) in revenue last year. The luxury firm aims to
make Yoox-Net-a-Porter the “dominant neutral platform for the luxury-goods
industry.”
Click Here: France Football Shop