Feb. 3 at 9:37 AM
uk watchdog casts eye on richemont deal to sell online retailer to farfetch (richemont headquarters in bellevue near geneva) britain's competition watchdog on tuesday said it was seeking comment on whether richemont's deal to offload most of its online fashion retailer yoox net-a-porter (YNAP) to farfetch
$FTCHF could harm competition in the UK. the deal clears the way for richemont's labels to sign up for technology run by luxury e-commerce specialist farfetch. the 'competition & markets authority' said it was considering if the anticipated acquisition by farfetch of a shareholding & certain rights over YNAP may lead to a 'substantial lessening' of competition within markets in britain. the deal comes amid a flurry of industry-wide investments in digital services as luxury players shrug off past scepticism & embrace new channels to reach customers, spurred by a faster shift to online consumption during the pandemic. 24 etfs with FTCH
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