Breaking News | Richemont confirms acquisition of Net-a-Porter

Net-a-Porter screenshot | Source: Net-a-Porter

LONDON, United Kingdom — It’s official and finally confirmed. Net-a-Porter, the world’s pioneering and leading luxury ecommerce retailer has been acquired by Richemont, which was already the largest shareholder in Net-a-Porter prior to the announcement of the transaction this morning, valuing the business at a whopping £350m. Natalie Massenet, Net-a-Porter’s Founder and Executive Chairman has long been a friend

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Luxe M&A returns, Richemont and Net-a-Porter link up, Fashion Culture, Nilsson’s 9 lives, Sartorialist knockoff

Julianne Moore for Bulgari 2010 | Source: Bulgari

Luxury sector readies for increase in deals (Financial Chronicle) “Merger and acquisition activity in the luxury sector is set to rise after a twoyear hiatus, driven by a recovery in the sector, closer price agreement between buyers and sellers and the weaker euro.” Richemont seeks to buy UK’s Net-a-Porter (Reuters) “Swiss luxury goods maker Richemont is seeking to buy the 67 percent of UK online fashion

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Richemont to buy Net-a-Porter, PVH acquires Hilfiger, Prada’s maltreatment, Liberty bid, GenY luxe life

Chloé Jumpsuit on Net-a-porter.com | Source: Net-a-porter

Net-a-Porter is being acquired for up to £350m by Richemont (Telegraph) “The deal, expected to be completed this week, will see founder Natalie Massenet, a former fashion journalist, become at least £50m richer as Richemont acquires the remaining 70pc of the company it doesn’t already own.” Phillips-Van Heusen Acquires Hilfiger for $3 Billion (NY Times) “Phillips-Van Heusen, the clothing conglomerate that

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J.Crew on Net-A-Porter, Nordstrom’s sees results, British creativity, Liberty’s call, Chistopher Kane in bloom

J. Crew Spring/Summer 2010 Preview | Source: J. Crew

J. Crew Is Going Global on Net-A-Porter (Stylelist) “Now, the classic American outfitter, currently available only in North America and Japan, has entered into an agreement with Net-A-Porter to be sold globally starting in May.” Nordstrom’s Profit More Than Doubles (WSJ) “Upscale department-store chain Nordstrom Inc. reported a 152 percent increase in profits during the quarter ended Jan. 30, underscoring

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The Business of Fashion | Happy Holidays

Roberta Furlanetto, Designer, Italy

VANCOUVER, Canada — In what has become an annual tradition here on BoF, we wish you the best for the holiday season (and in line with our veritable obsession with internet technologies) by sharing the most colourful and creative e-greetings we have received from readers all over the world. As the fashion industry takes a break from the incessant hustle and bustle which keeps us running around for most of the year, all of us at the

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Barneys and Holt Renfrew rumours persist, Discount sites boom, Net-a-Porter goes mobile, Jay-Z’s Rocawear

Jak & Jil window at Holt Renfrew, Toronto

Holt Renfrew owner rumoured to be eyeing Barneys New York (National Post) “Barneys, an 86-year-old luxury retailer which has famously catered to a broad and often eclectic range of needs of high-end consumers, would fit well within Mr. Weston’s portfolio and extend his buying power for his other luxury goods chains, including Holts, Selfridges in Britain and Brown Thomas in Ireland, analysts say.” When cheap is

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Prada talks to Richemont, Telegraph partners with Net-a-porter, Middle Eastern muse, Lacroix’s story, Roland Mouret

Prada A/W 09 ad campaign, courtesy of Prada

Prada bankers contact Richemont on stake-paper (Reuters) “Bankers for Italy’s Prada fashion house have contacted Compagnie Financiere Richemont SA about the Swiss company taking a stake in it, la Repubblica newspaper said on Saturday. In an unsourced report, the Italian daily said the banks, including Intesa Sanpaolo SpA and UniCredit SpA, would like an industrial partner for Prada with a stake of up to 30.”

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DVF as fashion business expert, US copyright laws, Fashion uniforms, Net-a-Porter’s new iPhone app

Diane Von Furstenberg

Tightening Belts? She’s the Expert (New York Times) Stephanie Rosenbloom sits down with Diane Von Furstenberg. Proposed new law sparks rift in US fashion industry (Business World) “A proposed new law that would extend copyright protection to clothing has designers in an uproar and threatens to widen a rift in the American fashion industry.” The chambermaid wears Prada (FT) “Designing uniforms for restaurant

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CEO Talk | Sarah Curran, Founder and CEO, my-wardrobe.com

Sarah Curran, Founder and CEO, my-wardrobe.com | Source: My Wardrobe

LONDON, United Kingdom — The Business of Fashion can exclusively reveal that my-wardrobe.com, the London-based fashion e-tailer positioned at a mid-level pricepoint between Net-a-Porter.com on the high-end and Asos.com on the low-end, has just closed its second round of investment. My-wardrobe continues to grow at a rapid pace, having achieved an extremely healthy 169 percent jump in sales in its third year, growing from £1.56m in

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