Richemont acquires shares in Net-a-Porter


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.

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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, the premier online luxury fashion retailer. Established in 2000, the website features collections from over 300 international designers.


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