By Madeleine Foster
British retail giant Frasers Group is reportedly considering a bid for Yoox Net-a-Porter (YNAP), the struggling online luxury fashion platform owned by Swiss company Richemont. This news comes after Richemont put YNAP up for sale, with the platform failing to meet expectations. A previous deal to merge YNAP with Farfetch fell through due to Farfetch's financial difficulties.
Frasers Group, known for its ownership of Sports Direct and Flannels, has been actively acquiring businesses in the retail sector. They recently purchased YNAP's competitor Matches Fashion, although it was later placed into administration.