Shares in Italian online fashion retailer Yoox Net-A-Porter closed up almost 9 percent on Monday as traders cited reported interest from Chinese e-commerce giant Alibaba Group.
“There are reports Alibaba is interested in buying a stake in Yoox,” one of the traders said.
A report on Chinese fashion website Ladymax.cn said the Chinese conglomerate had contacted Yoox Net-a-Porter over capital cooperation, adding it did not rule out buying shares.
But a source familiar with the matter later denied the report. “It’s not true,” the source said. Contacted by Reuters, YNAP said it did not comment on market speculation.
from CPP-LUXURY http://www.cpp-luxury.com/alibaba-group-reportedly-interested-in-yoox/?utm_source=rss&utm_medium=rss&utm_campaign=alibaba-group-reportedly-interested-in-yoox
via Your #1 Source to Finding Luxury & Designer Goods, Handbags & Clothes at or Below Wholesale: Click Here