A Spotlight On Common-sense Systems
Federico Marchetti, chief executive of YNAP, said Richemont would provide additional resources to strengthen YNAP’s long-term leadership in online luxury. “This means investing even more in product, technology, logistics, people and marketing,” he said. The acquired shares give Richemont nearly 50percent of YNAP. They also represent almost 26percent premium over its closing price on the Milan Stock Exchange of e30.26 (R478) a share in January in a deal that was said to be worth e2.7billion to value YNAP at e5bn. Johann Rupert, Richemont’s billionaire chairperson,
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