Richemont to Buy Net-a-Porter

March 16, 2010 • Fashion


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, 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. 

-Taneisha Jordan



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