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Richemont to Acquire YNAP to Boost Online Presence

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Richemont is seeking to correct a misstep—one that likely put it behind other luxury firms. The firm on Monday announced its intention to acquire the Yoox Net-A-Porter Group for 2.8 billion euro ($3.4 billion). The Richemont portfolio, which once included Net-A-Porter before the company orchestrated the merger with Yoox, spans jewelry, watches and writing instruments under high-end labels…

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