Farfetch receives approval to purchase majority quota of yoox net-a-porter

The European commission has cleared the acquisition by farfetch to purchase a 47.5% stake in yoox net-a-porter. 

The group has reportedly struck a deal in the region of £1BN. 

The agreement will see YNAP use the Farfetch platforms solutions and the launch of e-concessions on the Farfetch market place. 

Farfetch is a leading global platform for luxury fashion and was started in 2007 by Jose Neves. 

The platform connects over 190 countries worldwide, with over 1400 of the worlds most luxury brands / retailers.