Photo: Via Telegraph
UPDATE: As it turns out, the sale rumors were just that: a rumor. Compagnie Financière Richemont, which currently owns Net-A-Porter, issued a statement denying that it's trying to unload the e-tailer. "Richemont has a long-standing policy of not commenting on market rumors," the company said. "Exceptionally in this case, Richemont wishes to make it clear that the Net-a-porter Group is not for sale." (Women's Wear Daily)
Big changes could be in the works for fashion e-tailer Net-A-Porter, according to a new report. After months of rumors that the company is up for sale, the industry is buzzing yet again. It's only been three years since Richemont acquired a majority stake in Net-A-Porter, but there could be another upheaval in the works, according to WWD.
The trade publication speculates that the shopping site will merge with Yoox, though NAP's founder Natalie Massenet has denied that she'll be selling to the off-price retailer, and Yoox has recently attempted to squash rumors in the Italian press. It has us wondering just why Richemont would want to sell in the first place — especially since Net-A-Porter seems to be so hot right now and growing at a rapid pace. The most attractive reason seems to be due to cold, hard cash. Industry observers have estimated that Richemont could sell the site for up to three times what it paid several years ago.
Even if a sale never goes through, Net-A-Porter still has transitions on the horizon. A fully shoppable print publication is in the works, which is aiming to expand the brand's reach considerably. You can bet we'll be keeping an eye on the changes ahead. (Telegraph)