Richemont Moves To Re-Control Net-A-Porter Luxury E-Commerce Group

Richemont Moves To Re-Control Net-A-Porter Luxury E-Commerce Group Watch Industry News

Still warm after its major watch and jewelry industry trade show, SIHH 2018, the Richemont Group just announced what appears to be an indication that it will be moving to take back full control of the Net-A-Porter Group. Originally founded in 2000 by former fashion journalist Natalie Massenet, Net-A-Porter is considered the pioneer in luxury retail online, and has since both grown and launched a number of other multi-brand stores as well as dedicated online stores for a number of fashion brands. In 2002, the luxury watches, jewelry, and other goods conglomerate Richemont Group began its relationship with Net-A-Porter by investing in the luxury e-commerce retailer and acquiring 25% ownership and voting rights in the company. Net-A-Porter went on to grow and in 2010 the Richemont Group increased its position in Net-A-Porter by purchasing 93% of the company.

Richemont Moves To Re-Control Net-A-Porter Luxury E-Commerce Group Watch Industry News