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AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
29 NOVEMBER 2023
RICHEMONT NOTES THE MEDIA REPORTS ON AND ANNOUNCEMENT BY FARFETCH ON 28 NOVEMBER 2023
Following the recent media reports on and announcement made by FARFETCH on 28 November 2023, Richemont would like to remind its shareholders that it has no financial obligations towards FARFETCH and notes that it does not envisage lending or investing into FARFETCH.
Richemont is carefully monitoring the situation, including reviewing its options in respect of its arrangements with FARFETCH announced on 24 August 2022, which remain subject to certain terms and outstanding conditions. Neither Richemont Maisons nor YOOX NET-A-PORTER (“YNAP”) have currently adopted FARFETCH Platform Solutions and they continue to operate on their own platforms.
Richemont will make a further announcement if and when appropriate.
About Richemont
At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.
Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar including G/FORE, Purdey, Serapian as well as Watchfinder & Co. In addition, Richemont operates NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division. Find out more at www.richemont.com.
Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange, Richemont’s secondary listing.
About YOOX NET-A-PORTER
YOOX NET-A-PORTER is a leading online luxury and fashion retail business. Made up of four multibrand online stores, NET-A-PORTER, MR PORTER, THE OUTNET and YOOX, it connects customers to the world’s most coveted brands, bringing them outstanding style and impeccable service. In addition, YOOX NET-A-PORTER’s ONLINE FLAGSHIP STORES partner with world leading luxury brands to power their own e-commerce destinations.
With 5.3 million customers in 180 countries, YOOX NET-A-PORTER takes a localised approach to serving its clientele around the globe through its network of offices and operations across the U.S., Europe, APAC and joint ventures with Alibaba in China and Symphony Investments in the Middle East.