FRANCE: PPR forms online joint venture with Yoox
French retail group PPR has formed an online joint venture with online retailer Yoox to accelerate the e-commerce development of some of its luxury brands.
PPR will own 51% of the joint venture, while Yoox will own the remaining 49% stake, with the aim of improving PPR's existing online stores.
It will start by launching Sergio Rossi and Bottega Veneta online stores by the end of this year. These brands, as well as Yves Saint Laurent, Alexander McQueen and Balenciaga are set to have global online operations by the end of 2013.
PPR said it may decide to involve other brands in the future. Each brand will be in full control of its own online store and will be in charge of product assortment, editorial content, art direction and digital communication.
The joint-venture will allow the PPR brands to share best e-commerce practices, from web design and user experience to digital production, from customer care to web marketing. Through the joint venture, PPR's brands will gain access to Yoox Group's global logistics and technology platform, its worldwide reach with local expertise and its experience in new geographies for luxury e-commerce, such as China. This will help the brands' products become accessible in more than 100 countries.
After seven years of operations, PPR has the option to buy Yoox's stake in the joint-venture.
"E-business is a strategic priority for the group," said PPR chairman and CEO François-Henri Pinault. "This joint-venture will allow PPR to generate synergies and shared resources available to our brands through best-in-class e-commerce expertise. And with this strategic partnership with Yoox group, we invest in key skills essential to grow our business in the future."
French apparel and luxury group PPR has acquired a 51% stake in designer brand Christopher Kane in order to help develop the business....
French apparel group PPR has entered into negotiations with Alpha Private Equity Fund 6 (APEF 6) for the sale of Redcats' Cyrillus and Vertbaudet children and family brands for EUR119m (US$156m). ...
The Redcats mail order unit of French retail group PPR has sold its Sportsman's Guide and The Golf Warehouse, which sell clothing and accessories for outdoor activities, including hunting and golf to ...
French retail group PPR has acquired a EUR10m (US$13.1m) stake in Bigfoot I, the holding company that owns Russian online retailer Lamoda....
French apparel group PPR has entered into an agreement to sell its US plus size business OneStopPlusGroup to private equity firms Charlesbank Capital and Webster Capital as it works to focus on its lu...
PPR has confirmed today (3 November) that Alexander Wang will become creative director of its Balenciaga brand. ...
French luxury goods group PPR is in talks with private equity firm is reportedly in late-stage talks to sell Redcats' plus-size fashion business to private equity firm Charlesbank....
- Low labour cost countries linked to highest risks
- UK reshoring hub hit by sweatshop claims
- New fibre and fabric innovations for outdoor wear
- COMMENT: Skills or new technology?
- Why should brands care about China cotton?
- South Africa to grow grass for recyclable textiles
- US West Coast port contract reached
- 30% of Adidas cotton from sustainable sources
- Activewear driving US apparel spend
- Benetton to embark on living wage roadmap
- Global market review of swimwear - forecasts to 2019
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Apparel Retail: Top 5 Emerging Markets Industry Guide