PPR signs letter of intent with Yoox for online luxury venture
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Mon May 28, 2012 9:43 pm

INTERNATIONAL. PPR SA signed a non-binding letter of intent with Yoox SpA, an Italian online fashion retailer, to set up an e-commerce venture for PPR’s luxury brands.

The memorandum of understanding currently includes the Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Stella McCartney and Sergio Rossi brands, Paris- based PPR said today in an e-mailed statement.

“PPR and Yoox intend to continue negotiations with the aim of closing a definitive agreement in the coming months,” PPR said.

Yoox shares have gained 15 percent in Milan trading since May 16 when Bloomberg News reported the companies were close to signing an agreement for the venture, citing a person with knowledge of the talks.

PPR plans to have more than 1 billion euros (US$1.25 billion) of sales online by 2020. Yoox designs and manages e-commerce sites for more than 30 fashion and luxury goods brands and sells third-party products via the yoox.com, thecorner.com and shoescribe.com online stores.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: December 30, 2016
UAE. Booz Allen Hamilton forecasts energy trends in 2017; In the oil and gas industry, as well as in electric power, major internal and external forces are driving change, requiring industry leaders to revisit strategies.
date:Posted: December 21, 2016
UAE. PwC Middle East releases report on the Middle East's shopping habits; Online retail, rise of millennial shoppers and social media are disrupting the face of Middle Eastern retail.
date:Posted: December 20, 2016
INTERNATIONAL. Fjord Trends 2017 takes a provocative look at the digital developments to watch in the year ahead, according to Fjord, design and innovation from Accenture Interactive.
dhgate

Warning: include(/home/Domains/b/i/www.bi-me.com/public_html/adfiles/www/yes/shabs/mainads/menu.gif) [function.include]: failed to open stream: No such file or directory in /home/www/virtual/bi-me.com/htdocs/footer.php on line 1

Warning: include() [function.include]: Failed opening '/home/Domains/b/i/www.bi-me.com/public_html/adfiles/www/yes/shabs/mainads/menu.gif' for inclusion (include_path='.:/usr/share/php:/usr/share/pear') in /home/www/virtual/bi-me.com/htdocs/footer.php on line 1