Richemont confirms talks with Yoox over Net-a-Porter takeover

Emma Haslett
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Last week rumours circulated that Amazon was sniffing around the online luxury retailer (Source: Net-a-Porter)

It turns out that Richemont, the private equity owner of Net-a-Porter, is in talks with Yoox, Net-a-Porter's Italian rival, over a possible "deal".

The news follows rumours last week that Amazon was sniffing around the luxury shopping site, with a deal thought to be worth as much as €2bn (£1.47bn) on the cards.

But today Richemont, which bought the site in 2010, confirmed talks with Yoox, after further rumours over the weekend.

Discussions are currently underway with Yoox regarding a potential business combination between Yoox and The Net-A-Porter Group. The company will update the market as appropriate in due course and cannot comment further at this stage.
The company had previously denied that it was up for sale. However, rumours persisted - as the only one of Richemont's brands that doesn't manufacture goods itself, Net-a-Porter has been seen as an odd fit.

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