Earlier this year, it was rumored that Richemont had its eye on acquiring Prada but now it was revealed that the deal was for the biggest online luxury and high-fashion website on the block, Net-a-Porter.com. Richemont is the world's second largest luxury goods firm after LVMH.
Net-a-Porter founder Natalie Massenet will sell her 18 percent share of the company to Richemont, making about $75 million in the process. In the end, Richemont will now end up owning 70 percent instead of the 30 percent it owns now with other investors selling their stocks.
Sources: fashionologie.com; telegraph.co.uk
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