French luxury group PPR brands Bottega Veneta and Sergio Rossi will join forces with Italian Internet fashion retailer Yoox SpA to open new online stores by the end of 2012. Yves Saint Laurent, Alexander McQueen and Balenciaga will also operate digital stores using Yoox’s platform by the end of 2013, Paris-based PPR said today in a statement as it confirmed the signing of a joint venture with the Italian company.
PPR, which plans to generate more than 1 billion euros ($1.2 billion) of sales online by 2020, said it may decide to involve other brands in the partnership in future. The Stella McCartney label wasn’t on the list of brands published today after being included in plans that the companies outlined in May for the joint venture.
Recently, there were intens rumours of a take over by PPR of Yoox, yet it seems a deal could not be reached. Mention should be made that the world’s second largest luxury group, Richemont acquired Net-A-Porter last year.
Yoox is the leading Italian e-tailer, operating exclusively the online stores of Emporio Armani, Z Zegna, Dolce Gabbana etc. Yoox is among the first major luxury e-tailers to operate a website in China in Chinese.
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