It’s official, Richemont buys Net-a-Porter

01 April 2010

It has been rumoured for weeks and now it has been confirmed that luxury goods retailer, Richemont, has bought a stake of 33% in Net-a-Porter and are apparently making an offer for the remainder of the shares in a deal valuing the etailer at a gobsmacking £350 million. Founder Natalie Massenet agreed to sell her share for an estimated £50 million, but will remain as executive chairman and will be ‘completely committed’ to the continuing growth and development of the business. Net-a-Porter attracts 3 million visitors a month and has totally changed the way that people shop for designer fashion, and with this investment we’re sure it will continue to surprise us. ‘Richemont has completely embraced our vision and strategy since they came on board as a shareholder and together we are going to continue to build the 21st century model for luxury fashion retailing.’


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