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: January 20, 2018
LONDON. The impact of machine learning applications - from machine vision to voice recognition - will be massively enhanced via the deployment of 800,000 machine learning centric chips in data centres this year, roughly quadruple the volume in 2016.
date:Posted: January 20, 2018
UAE. A large youth population, fast- improving mobile connectivity and a flood of new streaming platforms into the market will drive growth.
date:Posted: January 19, 2018
INTERNATIONAL. Saxo Bank's strategy team sees a market full of potential hazards as we head into 2018; From central bank policy normalisation to rising inflation expectations, from fiscal deficit expansions to cross-asset correlations, the signs are all there.
LONDON. The impact of machine learning applications - from machine vision to voice recognition - will be massively enhanced via the deployment of 800,000 machine learning centric chips in data centres this year, roughly quadruple the volume in 2016.
dhgate