Richemont’s Sale of YOOX NET‑A‑PORTER to FARFETCH and Alabbar
September 06, 2022
On August 24, 2022, Richemont, FARFETCH and Symphony Global, one of the investment vehicles of Mohamed Alabbar (“Alabbar”), announced the acquisition by FARFETCH and Alabbar of a 47.5% and 3.2% stake respectively in YOOX NET‑A‑PORTER (“YNAP”), and the agreement for Richemont and YNAP each to adopt FARFETCH Platform Solutions. Cravath is representing Richemont as U.S. counsel in connection with the transaction.
The Cravath team is led by partner George A. Stephanakis and includes European counsel Virginie Marier and associate Mayssa Khattar.
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LL.M., 1997, Harvard Law SchoolFulbright Scholar
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LL.M., 1995, Cambridge University - Faculty of Law
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LL.B., 1994, University of Athens School of Lawsumma cum laude
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LL.B., 2010, McGill University, Faculty of Law
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B.C.L., 2010, McGill University, Faculty of Law
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B.A., 2006, Yale Collegemagna cum laude
- New York
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December 08, 2020
Richemont’s $1.1 Billion Global Strategic Partnership with Alibaba Group and Farfetch
On November 5, 2020, Farfetch, Alibaba Group (“Alibaba”), and Richemont announced a global strategic partnership to provide luxury brands with enhanced access to the China market as well as accelerate the digitization of the global luxury industry. As part of the global partnership, Alibaba and Richemont will invest $600 million ($300 million each) in private convertible notes issued by Farfetch Limited. Alibaba and Richemont will also invest $500 million ($250 million each) in Farfetch China, taking a combined 25% stake in a new joint venture which will include Farfetch’s marketplace operations in the China region. Alibaba and Richemont have an option to purchase a further combined 24% of Farfetch China after the third year of the joint venture’s formation. Cravath is acting as U.S. counsel to Richemont.
