Yoox and Net a Porter Merge

A fashion marriage made in heaven is how Italy’s Yoox and London’s Net a Porter are hailing their merger. Swiss luxury group Richemont, which owns Net a Porter, is to retain a 50% share in the new company, but with only 25% of voting rights. The merged company will have revenues of over a billion euros, and claims it will attract two million spending customers a month, and nearly 300 million visitors a year. The deal is expected to net savings of 60 million a year, and a rights issue worth 200 million euros is planned. Federico Marchetti, founder of Yoox, will be chief executive of the new company.

 

Leave a Reply