A YOUTUBE video featuring a woman sporting a gold watch and driving a convertible, which has been viewed online nearly 5m times. A social-media “influencer” with more than 11m followers on Instagram posting photos of herself wearing the same timepiece. A limited flash sale of the watch on Net-a-Porter, a website.
Purveyors of pricey jewellery and watches have been slow to embrace things digital. But last year’s social-media campaign to relaunch Panthère, a watch made by Cartier, a French jeweller, is evidence that they are waking up to the power of the online world. On January 22nd Richemont, a Swiss luxury conglomerate that counts Cartier among its brands, offered to buy the shares it does not already own in Yoox-Net-a-Porter group (YNAP), a leading luxury online retailer, for €2.7bn ($3.3bn). Although the deal still faces hurdles, it is likely to go ahead.
The days of double-digit growth in the luxury industry are gone—it...Continue reading
from Business and finance http://www.economist.com/news/business/21735653-its-offer-buy-ynap-leader-online-luxury-sales-looks-likely-be-accepted-richemont?fsrc=rss
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