Net-a-porter gets a new owner in Richemont

An opulent online web store will command a huge price, right? Even more so, when it has recorded high profits too. That is what Swiss luxury goods maker Compagnie Financière Richemont SA learnt as it disclosed its intention of increasing its 33% stake at Net-a-Porter. A whopping bid of $341 million to private shareholders ensured that the company’s stake is now valued at $534 million.

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Almost a year ago, a sister site which provided discounted designer wear was launched by Net-a-Porter. The founder of Net-a-Porter, former fashion journalist Natalie Massenet will continue to serve as the executive chairman.