Chic portal nets buyer
Popular fashion website "Net-a-porter" bought by global luxury giant Richemont for 350 million pounds.Updated: Apr 07, 2010, 01:07 IST
It has been a popular fashion retail website for a decade and now, web based women’s fashion retailer Net-a-Porter is being bought by global luxury giant Richemont for 350 million pounds.
The Swiss group already owns one third of the business, which was created by former fashion journalist Natalie Massenet and employs 600 staff in London and New York.
“Natalie has created a superb, customer-oriented business at Net-a-Porter in a relatively short period of time,” said Richemont chief executive Johann Rupert.
Net-a-Porter has adopted the lively style of a chic fashion magazine to sell collections from more than 300 well-known designers, claiming customers in more than 170 countries.
It offers some 300 brands including Jimmy Choo, Stella McCartney and Givenchy, delivering clothes and accessories from an 18-euro triple pack of socks up to a 16,600-euro handbag with a few clicks of a mouse.