Three Luxury Conglomerates Conspire To Create New Luxury Retail Websites
John Rupert, chairman of the group, invited LV's LVMH group and Gucci's Open Cloud group to set up a new luxury retail website to compete with Amazon.
The South African billionaire is now in charge of Swiss luxury goods company and its 20 brands, as well as the world's largest luxury goods supplier Yoox Net-a-Porter, which was recently merged.
He sent an invitation to LVMH Group Chairman Bernard Arnott and Kai Yun group to join them.
Yoox Net-a-Porter platform
。
He said luxury manufacturers needed larger electricity providers to survive in the competition.
At 2015
Monte Carlo
In the financial times, FT Business of Luxury summit, Rupert said, "whether Yoox, NAP (Net a Porter) or LVMH themselves, we are not strong enough.
I was discussing with Arnott and Kai Yun to join our Yoox Net-a-Porter platform.
This is a big game for any company that tries to play alone. "
Reuters reported that Arnott had just invested.
Luxury goods
Online retailer Lyst.
Lyst chief executive and founder Chris Morton told Reuters in the gap between the summit that he believed that the "Internet fashion world" in the past 5 months is more than 5 years ago.
"2015 is a pioneering year for online fashion retailing," Morton added.
In March this year, the group reached an agreement with Yoox, a luxury electronics supplier, announcing the merger of Net-a-Porter with the latter.
With the two alliances, the new luxury business giant sat in 2014 with annual sales of 1 billion 300 million euros and 2 million of its customers.
Cie. Financiere Richemont SA, headquartered in Geneva, has announced that the Yoox Net-a-Porter platform will become the "leader of the luxury industry" in the future.
Kai Yun group has already managed the business channel for its own fashion and leather brand through joint venture with Yoox, but the largest sales Gucci has been excluded.
Compared with Amazon, Li Feng believes that Yoox Net-a-Porter can provide a more high-end shopping experience after brand integration.
"Online retail is the game of the brave," Rupert called at the May 22nd meeting. "It is not designed for the timid."
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