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Richemont makes 2.8b euro offer for Yoox Net-a-Porter

It targets wealthy clients who are time-starved and prefer the convenience of buying luxury goods online

The surprise bid was a significant volte-face in Richemont's strategy, acknowledging rapid changes in the luxury retail sector.

New York

COMPAGNIE Financiere Richemont built a conglomerate offering the world's wealthiest consumers the highest-quality products, often in the most luxurious of settings. Clients walking into a Cartier flagship or a Piaget boutique - both Richemont brands - could expect radiant smiles...

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