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.



date:Posted: October 19, 2016
UAE. The general trend for Abu Dhabi's hospitality market has been positive growth of tourism demand being offset by a decline in corporate demand and new supply completions.
date:Posted: October 19, 2016
INTERNATIONAL. Global medtech revenue in 2015 decreased 1.2% to US$337b, while net income dipped 15.5% to US$14b; Mergers and acquisitions increased 27% to US$80b in the 12 months ending 30 June 2016.
date:Posted: October 19, 2016
INTERNATIONAL. Largest quarterly increase for 18 months; Optimism driven by confidence in job security, up 6% since Q2, according to the latest Consumer Tracker from Deloitte.
cheap wedding dresses on Ca-Dress.com