Yoox-Net-A-Porter bids farewell to China under pressure from competitors

Featured image of the article Yoox-Net-A-Porter bids farewell to China under pressure from competitors

An article by Morgane Monteiro

Publication

20 June 2024 à 16h35

Updated on 3 July 2024 à 12h39

Reading time

1 minute

Publication: 20 June 2024 à 16h35, Updated on 3 July 2024 à 12h39

Reading time: 1 minute

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An article by Morgane Monteiro

Publication

20 June 2024 à 16h35

Updated on 3 July 2024 à 12h39

Reading time

1 minute

Publication: 20 June 2024 à 16h35, Updated on 3 July 2024 à 12h39

Reading time: 1 minute

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On June 14, Switzerland’s Richemont (2023 sales of €20.62 billion, up by 3.3%), owner of Cartier, Van Cleef & Arpels, etc., announced the closure of the Yoox Net A Porter (YNAP) subsidiary in China. Selling in the country from 2013 and available on Tmall since 2018 thanks to Feng Mao (a joint venture between Alibaba and Richemont), the subsidiary is loss-making. According to Lucrezia Seu, Founder of Shanghai-based marketing agency Plush Consulting, competition and the macroeconomic...

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Article authors
Featured image of the article Morgane Monteiro
Morgane Monteiro Journalist
Featured image of the article Morgane Monteiro

Journaliste économique pour mind Retail depuis 2024, j’analyse la transformation digitale du commerce.

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