Slaughter and May is advising Richemont, the Swiss luxury goods group, on its global strategic partnership with Alibaba Group. The partnership, which was announced on 26 October 2018, will bring the retail offerings of YOOX NET-A-PORTER GROUP S.p.A. (YNAP), the world’s leading online luxury retailer, to Chinese consumers.
Under the partnership, YNAP and Alibaba will establish a joint venture (JV) to launch mobile apps for YNAP’s NET-A-PORTER and MR PORTER multibrand stores for consumers in China, supported by a technology infrastructure provided by Alibaba. In addition, the JV will launch NET-A-PORTER and MR PORTER online stores on Alibaba’s Tmall Luxury Pavilion, an exclusive platform dedicated to the world’s leading luxury brands. The JV will also extend to Chinese consumers travelling abroad.
Slaughter and May advised Richemont on its acquisition of full control of YNAP by way of an Italian tender offer earlier this year.