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Farfetch's Yoox Net-a-Porter deal probed by UK competition regulator

( February 8, 2023, 08:21 GMT | Official Statement) -- MLex Summary: Farfetch’s plan to take a large stake in rival online-fashion retailer Yoox Net-a-Porter is being probed by the UK competition regulator, the watchdog said. Farfetch, an online platform that sells luxury goods from more than 1,400 leading brands, announced that it had agreed to buy 47.5 percent of Yoox Net-a-Porter from Swiss luxury-goods company Richemont. As part of the deal, Symphony Global, an investment vehicle for Emirati businessman Mohamed Alabbar, will also acquire 3.2 percent of Yoox Net-a-Porter from Richemont. The Competition and Markets Authority will decide by April 5 whether the transaction merits an in-depth review.The statement follows:...

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