net-a porter and yoox merge

The two online fashion retail giants - and former rivals - announced their union today

by i-D Staff and Greg French
|
31 March 2015, 1:12pm

Online women's shopping site Net-a-Porter and Italian clothing retailer Yoox have this morning confirmed an all-merger deal, which will see the formation of the Yoox Net-a-Porter group.

Both sites launched in 2000, and the pairing will see the appointment of Yoox owner Frederico Marchetti as the company's CEO - whilst Net-a-Porter's founder Natalie Massanet is to serve as executive chairman.

The deal is expected to save the respective parties €60 million per year with an aim to narrow Net-a-Porter's profit loss, which was announced in 2014. The company will now sit on the Stock Exchange, with a net worth of $2.5 billion - the largest of any online luxury retail destination.

The announcement from luxury conglomerate Richemont follows speculation that Amazon was to buy a majority share of the Net-a-Porter group - a rumor that has now been quashed. Jonathan Rupert, Chairman of the Richemont group added, "the merger of the two leaders will further enhance an independent, neutral platform for a sophisticated clientele looking for luxury brands."

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Net-a-porter
natalie massenet
yoox