Net-a-Porter and Yoox will merge into the largest luxury retailer
Bloomberg announces a deal to merge the two largest online retailers in the luxury segment.
Net-a-Porter, whose purchase was recently interested in Amazon, will be entirely sold to the Italian company Yoox at a price of $ 775 million. The deal will be paid for with Yoox securities, which confirmed the takeover of a competitor.
As a result of this merger, the world's largest online store selling luxury goods will appear on the market, the Kommersant edition reports . In the resulting company Richemont Group will own exactly half of the voting shares, but only 2 out of 12 places on the board of directors - this will ensure the company's independence from former shareholders.
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At the end of 2014, the total net revenue of the company is estimated at € 1.3 billion. Natalie Massne, the head and minority shareholder of Yoox Federico Marchetti, now managing Net-a-Porter will take the position of executive chairman of the board of directors, will become the company's general director.
Experts point out that the deal is beneficial to both parties - more and more competitors are on the market (in September 2014, another premium segment retailer Neiman Marcus swallowed Mytheresa.com, and Amazon is not asleep), and Richemont and Yoox will be able to consolidate their own success on this the market.
Net-a-Porter, whose purchase was recently interested in Amazon, will be entirely sold to the Italian company Yoox at a price of $ 775 million. The deal will be paid for with Yoox securities, which confirmed the takeover of a competitor.
As a result of this merger, the world's largest online store selling luxury goods will appear on the market, the Kommersant edition reports . In the resulting company Richemont Group will own exactly half of the voting shares, but only 2 out of 12 places on the board of directors - this will ensure the company's independence from former shareholders.
')
At the end of 2014, the total net revenue of the company is estimated at € 1.3 billion. Natalie Massne, the head and minority shareholder of Yoox Federico Marchetti, now managing Net-a-Porter will take the position of executive chairman of the board of directors, will become the company's general director.
Experts point out that the deal is beneficial to both parties - more and more competitors are on the market (in September 2014, another premium segment retailer Neiman Marcus swallowed Mytheresa.com, and Amazon is not asleep), and Richemont and Yoox will be able to consolidate their own success on this the market.
Source: https://habr.com/ru/post/289124/
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