Must Read: Farfetch Buys 47.5% of Yoox Net-a-Porter, Bad Bunny and Adidas Launch New Collaboration

Plus, how Sambas became the shoe of the summer.

These are the stories making headlines in fashion on Wednesday.

Richemont to sell 47.5% of Net-a-Porter to Farfetch
Swiss conglomerate Richemont is selling 47.5% of Yoox Net-a-Porter (YNAP) to Farfetch, the e-tailer’s biggest competitor, in a new deal that will value YNAP at around €1 billion. Richemont will receive $440 million in Farfetch shares now, and another $250 million worth in five years. Investment firm Symphony Global will acquire an additional 3.2% of YNAP, leaving the company — which has been losing money — without a controlling shareholder. Richemont purchased a controlling share of YNAP in 2018, when it was valued much higher, at €5 billion. Farfetch could acquire the remaining shares should it want to, paving the way for domination in the luxury e-commerce space. {Business of Fashion}

Bad Bunny and Adidas realease new collaboration
The new Bad Bunny x Adidas Originals Forum comes in a sky-blue colorway inspired by the beaches and blue skies of Puerto Rico summers. The collaboration is a follow-up to the brand and singer’s 2021 “The First Café,” “Easter Egg” and “Back to School” releases. The new style will be available on the Confirmed App on Aug. 27. {Fashionista inbox}

How Adidas Sambas became the shoe of the summer
Speaking of Adidas, GQ‘s Samuel Hine wrote about the growing popularity of the brand’s classic Samba style within the fashion community, and how in many ways, fashion people are late to the Samba party. The Samba is considered one of Adidas’ best-selling styles, with Drew Haines, merchandising director of sneakers and collectibles at StockX, saying, “In the last two months, we’ve seen almost the same number of Samba sales as we did in the prior five months (January through May 2022) combined.” Major players in the nostalgic shoe’s resurgence include Jonah Hill, Grace Wales Bonner, Gucci and Harry Styles. {GQ}

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Source: Fashionista.com