RICHEMONT Group acquires NET A PORTER
Richemont Group announced today it acquired NET-A PORTER Limited and will hold an effective economic interest of more than 93 per cent in the issued ordinary capital of NET-A PORTER. British media reports that the value of the transaction exceeds GBP 350 million.
NET-A-PORTER Limited owns NET-A-PORTER.COM, the premier online luxury fashion retailer. Established in 2000, it features collections from over 300 of the world’s leading designers and offers unrivalled customer service; it ships to over 170 countries worldwide and recently celebrated its millionth order. NET-A-PORTER Limited’s unaudited turnover for the financial year ended 31 January 2010 was approximately GBP 120 million; it employs some 600 staff at its principal operations centres in London and New York. NET-A-PORTER will operate as an independent entity alongside Richemont’s other luxury goods businesses.