Richemont invites LVMH and Kering to create new online store

The chairman and CEO of Richemont, Johann Rupert, has invited LVMH and Kering to create a new online luxury retail store to compete with Amazon. 

Speaking at the Financial Times Business of Luxury event in Monte Carlo, Rupert said that he had spoken to Bernard Arnault CEO at LVMH, which houses brands such as De Beers and Bvlgari, and Kering which owns Gucci, about investing in the newly combined Yoox/Net-a-Porter online fashion retailer.

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