Farfetch takes a big stake in Net-a-Porter

Farfetch has reached a deal to acquire a 47.5 percent stake in Yoox Net-a-Porter from the Swiss luxury conglomerate, Richemont. Yoox-Net-a-Porter will use Farfetch's online platform. Richemont will own an 11 percent stake in Farfetch once the deal is closed.