What you need to know about Richemont and Alibaba’s strategic partnership

PUBLISHED: Fri, 26 Oct 2018 17:04:09 GMT

ZURICH, Oct 26 (Reuters) – Swiss luxury group Compagnie Financiere Richemont SA and Chinese group Alibaba are joining forces to target the Chinese retail market, Richemont said on Friday.

The strategic partnership will feature retail offerings of Yoox Net-a-Porter Group S.p.A. (YNAP), the online luxury retailer, to Chinese consumers.

Under the partnership, YNAP and Alibaba will establish a joint venture to launch two mobile apps for the Net-a-Porter and Mr Porter multi-brand, in-season online stores for consumers in China.

(Reporting by Michael Shields; Editing by Maria Sheahan)

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