Premium fashion firms have helped boost the value of online M&As from £31m to £461m in a year, a study by law firm RPC has found.
According to RPC the fourteen-fold increase in activity is mainly due to premium and luxury brands rapidly expanding their online sales presence.
The action is a turnaround from previous strategies to restrict selling luxury brands online.
M&A activity in 2017 included Japanese luxury group Onward Holdings’ acquisition of British footwear brand Charlotte Olympia and Richemont acquiring Yoox Net-a- Porter Group.
Overall, M&A in the retail sector increased to 37 in 2017/18 from 32 the previous year.
Karen Hendy, partner in the retail group at RPC, said: “Ecommerce is one of the fastest growing areas within the retail sector.
“Pure play digital operators such as Yoox Net-a-Porter and FarFetch have shown what’s possible for luxury multi-brand online retail. As a result, other luxury goods companies have come to understand how important a credible online offering is for consumer engagement and boosting sales.”