Richemont to sell online retailer stake to Farfetch, takes 2.7 bln euro writedown

[AJBot]

ZURICH -- Richemont Wednesday announced a long-awaited deal to offload most of its online fashion retailer YOOX Net-A-Porter (YNAP), clearing the way for its labels to sign up for technology run by luxury e-commerce specialist Farfetch. Read More ...

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[Setho]

I believe that this is something that has been for a long time coming. You have to understand that the company has a lot of potential but it can only go if it is been given to capable hands.