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Yoox Surges in Milan on Talks to Set Up PPR E-Commerce Venture

Yoox SpA, an Italian online fashion retailer, rose the most in 2 1/2 years in Milan trading after confirming that it’s in discussions to set up an e-commerce joint venture with PPR SA.

The venture will run the online sales of all of Paris-based PPR’s luxury brands, including Gucci, a person with knowledge of the talks told Bloomberg News yesterday, asking not to be named because the matter is private. No definitive agreement has been signed, Yoox said today in a statement.