article_snippet: Yoox boss, founder and minority shareholder Federico Marchetti will become chief executive and shape strategy. '
article_snippet: Yoox shares, which gained already nearly 10 percent on Monday after Yoox and Richemont confirmed the new purchase, values Yoox at 1.56 billion euros .
article_snippet: Yoox and Richemont operates the online sales of fashion brands such as Ermenegildo Zegna and Kering (PRTP.PA)'s Bottega Veneta and Saint Laurent and also sells items at a discount.
article_snippet: Analysts said a discount could help boost Yoox and Richemont's chances of retaining luxury brands that might otherwise have wanted to take Analysts online operations in-house once Analysts gained experience. '
article_snippet: Yoox shares, which gained already nearly 10 percent on Monday after Yoox confirmed Reuters reports Yoox were in talks, were up more than 8 percent by 0501 EDT at 25.14 euros, valuing Yoox at 1.56 billion euros.
article_snippet: If Yoox shareholders approve the deal in June, the new group will launch a rights issue of around 200 million euros ($216 million) in the fall to fund growth, with Richemont expected to fund around half the sum, a spokesman for the new group said.
article_snippet: Marchetti, who currently owns over 7 percent of Yoox, said Marchetti, who currently owns over 7 percent of Yoox planned to remain a shareholder.