Richemont makes online investment with 93 percent Net-a-Porter stake.
Richemont has invested in online fashion through the acquisition of shares in Net-a-Porter Limited, the result of an offer announced on April 1.
Richemont will now effectively hold an economic interest of 93 percent in the issued ordinary capital of Net-a-Porter Limited, a huge increase from its original 33 percent stake.
The companies will be operated separately, with Richemont emphasising that Net-a-Porter will continue to function as a platform for third party luxury designers.
Net-a-Porter Ltd’s turnover for the financial year ending in 31 January 2010 was around £120 million, with the retail brand employing some 600 staff in its London and New York offices.
The company is best known for its ownership of Net-a-Porter.com, the premier online luxury fashion retailer. Established in 2000, the website features collections from over 300 international designers.