Net-a-Porter to cease activities in China by March 20

Online fashion retailer Net-a-Porter has set its deadline for its withdrawal from China. The company published a statement on its Chinese website stating that sales activities in the country via the online shop, local app and other digital platforms will be discontinued on March 20. Following that, "after-sales services" such as returns and exchanges will be offered until April 22.

The Yoox Net-a-Porter Group (YNAP) has been active in China since 2013. In 2018, the group founded the joint venture Fengmao with the Chinese e-commerce giant Alibaba, which has since then operated YNAP's digital activities in the country.

Speculation surrounding Net-a-Porter's exit from China has been circulating since last summer, when various media reported that the online retailer wanted to concentrate on its core markets and more profitable regions in the future.

According to a recent report by the trade magazine WWD, the fact that the plan is now being implemented could also be related to the impending takeover of YNAP by the Munich-based online retailer Mytheresa.

In October, its listed holding company MYT Netherlands Parent BV signed a corresponding agreement with the Swiss luxury goods group Richemont, which has wanted to sell YNAP for some time. The transaction is expected to be completed in the first half of the year.

This article originally appeared on FashionUnited.DE. It was translated to English using AI.

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