CFRHF Stock Recent News

Richemont, the parent company of Cartier, announced the agreement to sell its online fashion and accessories business, Yoox Net-A-Porter (YNAP), to German luxury fashion platform Mytheresa. This decision comes after last year's failed transaction and concludes the search for a new owner for the loss-making YNAP.

Cartier-owner Richemont has agreed to sell its Yoox Net-A-Porter (YNAP) online fashion and accessories business to Mytheresa in exchange for a 33% stake in the German luxury fashion platform, it said on Monday.

Richemont said on Tuesday that Louis Ferla will replace Cyrille Vigneron as chief executive officer of its Cartier jewellery brand.

The  S&P 500 Luxury Goods Index  has experienced a torrid start to the year, falling by nearly 5%. However, I wouldn't be worried about my luxury goods stocks if I were you.