Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
TechnologyAug 12, 2016
Net-a-Porter merges with Italian e-tailer
Richemont announced Tuesday that it will merge its online-only luxury marketplace Net-a-Porter, which sells fine jewelry along with clothes and accessories, with Yoox.
London--Richemont announced Tuesday that it will merge its online-only luxury marketplace Net-a-Porter, which sells fine jewelry along with clothes and accessories, with Yoox, in an all-share transaction that will afford Richemont a 50 percent stake in the combined entity.
Yoox, owned by the Milan-based mail-order retailer Yoox Group, is a similar business to Net-a-Porter; it is an online retailer of high-end, brand-name fashion goods.
Richemont Chairman Johann Rupert said while the company is proud of Net-a-Porter’s achievements, merging it with another leader in online luxury sales was necessary.
“Established business models are being increasingly disrupted by the technological giants,” he said, perhaps referring to Amazon.com, which is trying to gain a foothold in the luxury market and once was rumored to be interested in buying Net-a-Porter. “It is with this in mind that we believe it is important to increase leadership and size to protect the uniqueness of the luxury industry.”
While Richemont, a Geneva-based luxury goods conglomerate that also owns Van Cleef & Arpels, Cartier and a number of high-end watch brands, will receive 50 percent of the share capital, the company’s voting rights will be limited to 25 percent to preserve the independence of Yoox Net-a-Porter Group, the proposed name of the combined entity.
It will continue to be incorporated in Italy, and listed on the Borsa Italiana, the country’s main stock exchange.
The merger is conditional upon the approval of Yoox shareholders, at a meeting expected to be held this June.
Richemont said upon completion, it will appoint two representatives to the company’s board of directors, which will have a minimum of 12 members.
More on Technology
The Latest
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ PendantThe Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated StoreThe jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.
MajorsApr 18, 2025
Tiffany & Co. Employees Star in Mother’s Day CampaignThe “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.
Weekly QuizApr 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 17, 2025
John Hardy, Athena Calderone Partner on Art Deco Decor-Inspired CollectionInterior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.
FinancialsApr 17, 2025
Movado Group to Increase Prices to Offset Tariffs ImpactDuring a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
Lab-GrownApr 17, 2025
NDC Launches Its Diamond Learning CenterThe free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.
Policies & IssuesApr 17, 2025
Jewelers of America Requests Tariffs Testimonials from MembersThe feedback will be used to prepare other jewelers for the challenges ahead, the organization said.
IndependentsApr 16, 2025
Catbird Expands to ChicagoThe opening marks the jewelry retailer’s first location in the Midwest.
CollectionsApr 16, 2025
Foundrae’s First Commitment Jewelry Collection Unites Through LoveThe “United in Love” collection offers tangible mementos of hearts entwined with traditional and non-traditional commitment heirlooms.
IndependentsApr 16, 2025
Indiana Jeweler to Host Black Jewelry Designer Pop-UpRobert Goodman Jewelers will hold a “Black Jewelry Designers and Makers” event on April 27.
MajorsApr 16, 2025
WJA Announces Board Members, New Chicago Chapter PresidentThe announcements follow a tumultuous start to 2025 for WJA, which saw a wave of resignations following controversial statements about DEI.
EditorsApr 15, 2025
Tariffs: What We Know Right Now Editor-in-Chief Michelle Graff answers questions about how the new taxes levied on countries like India and China will impact the industry.
EditorsApr 15, 2025
Q&A: Bogolo Joy Kenewendo on Making Deals, Marketing DiamondsKenewendo, Botswana’s minster of minerals and energy, discusses closing the deal with De Beers and the work that was missed along the way.
AuctionsApr 15, 2025
23-Carat ‘Golconda Blue’ Heads to AuctionThe historic fancy vivid blue diamond set to headline Christie’s Geneva sale next month could sell for up to $50 million.
FinancialsApr 15, 2025
LVMH’s Q1 Sales Slip 2 PercentLVMH CFO Cécile Cabanis also discussed the effects of tariffs so far.
CrimeApr 15, 2025
Jon Hamm Plays a Jewel Thief on Apple TV+The “Mad Men” and “The Morning Show” star steals jewelry, art, and handbags from his wealthy neighbors in “Your Friends & Neighbors.”
SourcingApr 15, 2025
Diamond Club West Coast Names 2025 BoardThe organization has reelected Kalpesh Jhaveri as president.
FinancialsApr 14, 2025
Movado to Restate Years of Financials Due to ‘Misconduct’ in Dubai An investigation found that the former managing director of Movado’s Dubai branch overstated and prematurely recorded sales.
CollectionsApr 14, 2025
Sauer Embraces Emptiness Through ‘Ma’ CollectionThe collection pays tribute to the Japanese philosophy of Ma, studying balance, stillness, and the interplay between presence and absence.
IndependentsApr 14, 2025
Illinois Jeweler Closing After 45 YearsMari Lou’s Fine Jewelry in Orland Park, a suburb of Chicago, is closing its doors.
GradingApr 14, 2025
GIA Expands Overseas Services as Tariffs Kick InGIA’s labs in Dubai and Hong Kong are now accepting larger diamonds in light of the “logistical challenges” presented by the new tariffs.
AuctionsApr 11, 2025
Piece of the Week: A Replica of Princess Grace’s Wedding EarringsThese earrings by Van Cleef & Arpels, featuring the same design as a pair worn by Princess Grace, are up for auction at Woolley & Wallis.
Recorded WebinarsApr 11, 2025
Watch: Top Tips for Saving Time With AITwo experts share how artificial intelligence tools can help retailers run a more efficient business.
SourcingApr 11, 2025
Mikimoto Names New President, CEO for U.S. DivisionKentaro Nishimura, who has been with the pearl company since 1997, has been promoted to president and CEO of Mikimoto America.
