Richemont Confirms Net-A-Porter Sale Talks

Richemont is exploring a possible “business combination” between Italian luxury e-tailer Yoox Group and its upscale e-commerce site Net-A-Porter, it confirmed in a statement today.

Other reports had suggested Amazon might buy the site.

It is not known if the deal would mean that Richemont would retain ownership in the site. Richemont purchased the site in 2010 for $533 million.

According to Reuters, Net-A-Porter is one of Richemont’s fastest- growing businesses, but it is still not profitable.

JCK News Director