Richemont to buy Net-a-Porter for £350 million

It was reported in the Sunday Telegraph this week and confirmed by insiders today. Richemont has been an investor in Net-a-Porter for many years and hold a 29% stake so it is not the biggest surprise that they have emerged as the purchaser of Net-a-Porter. They have had plenty of time to size up the business and the price seems reasonable given both the growth and the brand. A good day for Natalie Massanet and Mark Sebba, the founder and CEO respectively.