France-based PPR and Italy’s Yoox
Group have created a joint venture designed to
accelerate the eCommerce development of PPR’s luxury brands
around the world. The new business, 51 per cent owned by PPR and
49 per cent by Yoox, will launch online stores globally for the
Sergio Rossi and Bottega Veneta
brands in 2012. Online stores for Yves Saint Laurent,
Alexander McQueen and Balenciaga will
follow by the end of 2013, with the potential to launch some of
PPR’s other brands online in the future. As part of their overall
strategy, each PPR brand will be in full control of its online
store and will be in charge of product assortment, editorial
content, art direction and digital communication. The brands will
gain access to Yoox’s global logistics and technology platform,
its worldwide reach with local expertise and its experience in
new geographies for luxury eCommerce, such as China.
Yorkshire-based VetUK has acquired its
Worcestershire-headquartered rival Nutrecare, an
online seller of veterinary and pet supplies, for an undisclosed
sum. The deal sees the Kidderminster business relocate to Thirsk,
but it’s understood that none of its five employees have chosen
to make the move. VetUK will now take on four new members of
staff, bringing the total number of employees to 32.
Expectations of a major boost to growth are being downgraded,
notes the Guardian, as the Olympics
fail to deliver the “hard cash”.
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