Monday, April 6, 2015

Net-A-Porter And Yoox Merger Confirmed

Net-A-Porter is merging with Yoox, it was confirmed this morning. The merger - announced in a statement by owner Richemont - puts an end to months of fevered speculation which suggested several outcomes for the British etailer, including being bought out by Amazon and heading for an IPO. The Yoox link-up was first rumoured almost two years ago


It won't be the end of Net-A-Porter founder Natalie Massenet's time with the company; she has agreed to stay on as executive chairman of the new company - set to be known as Yoox Net-a-Porter Group.

The company will be incorporated in Italy and quoted on the Italian stock exchange,WWD reports, and although financial terms have not been revealed, the transaction will be completed this autumn, pending approval from shareholders.

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