Worldview: Why Yoox Net-a-Porter Is Exiting China

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The luxury e-tailer will liquidate Fengmao, its joint venture with Chinese e-commerce giant Alibaba, and cease operations in the country, according to a person familiar with the matter speaking to the Financial Times. A spokesperson for Richemont, the Swiss group that owns YNAP, said the decision was made in the wider context of YNAP’s global “plan aimed at focusing investments…