At the Financial Times Business of Luxury Summit in Monaco on June 9, Johann Rupert has opened his hands to long time luxury sector competitors, LVMH and Kering, inviting them to invest in the newly created platform Yoox/Net-a-Porter. The two websites, one Italian and one Swiss, merged in March to become the largest online luxury e-commerce site, with a combined turnover of over US$1.5 billion. But that wasn’t enough for Rupert, who has understood that “it is too big a game for any company to dominate”, leading to the decision to invite the competitors to invest in Yoox/Net-a-Porter.

Kering already has a joint venture with Yoox for most of its labels, while Chanel and Armani are other potential investors in this project to regain the market from companies such as Amazon and Google. It’s up to LVMH and Kering now to accept or not accept the challenge.

Richemont brands include many leather goods names such as Cartier, Alfred Dunhill, Shanghai Tang and Lancel etc.