Tuesday, 6 April 2010

Richemont Will Become The Majority Shareholder In Net-a-Porter – 6/4/10

It’s official: Richemont will move from owning 29 percent of internet designer clothing retailer Net-a-Porter to 67 percent, according to Reuters.

An article in the Financial Times also caught our eye, particularly this comment: "Net-a-Porter’s management team are hoping to be able to tap into Richemont’s expertise in the Asia-Pacific region, while Johann Rupert, Richemont’s executive chairman, is hoping to be able to use Net-a-Porter’s skill in selling luxury online to help Richemont develop its own internet strategy."

Johann Rupert, also said in a statement: “Natalie Massenet has created a superb, customer-oriented business at Net-a-Porter in a relatively short period of time. We welcome her and her team to Richemont and look forward to working with them in the future to ensure Net-a-Porter’s continuing success.”

This seems to be a clever move for Richemont; buying into a successful high end online retailer will enhance their own online offer...

Image courtesy of the Times online. It shows Natalie Massenet.

Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au