Alabbar, an owner of retail and e-commerce franchise operations, and Farfetch, a global platform for the luxury fashion industry, agreed to acquire a 50.7% stake in YOOX Net-a-Porter, an Italian online fashion retailer, from Richemont, a luxury goods holding company. Financial terms were not disclosed. "Our Farfetch Platform Solutions’ capabilities are perfectly tailored to the Luxury industry, and that has now been recognised by Richemont’s Maisons as well as pioneering luxury e-tailer YNAP, who will all be able to elevate the digital experiences of their global customers, by leveraging Farfetch Platform Solutions," José Neves, Farfetch Founder, Chairman and CEO.