The bosses of three of Europe’s most well known luxury and beauty companies are considering plans to create a joint e-commerce platform.
Richemont Chairman, Johann Rupert, has asked rivals Kering and LVMH to invest in the new Yoox Net-a-Porter online site. "I want to create,” Rupert reportedly told Reuters, “a platform that is open to everyone, it is up to them (LVMH and Kering) now. ... I think it is a too big a game for any company to dominate."
What would such a move do for beauty and cosmetics? Steph Wissink, senior research analyst at Piper Jaffray, told Cosmetics Business that the prestige cosmetics and fragrance industry is heavily tied to luxury brands, so a unified platform would be an extra distribution opportunity.