Confirmed: Yoox is in Talks to Acquire Net-a-Porter

In eCommerce, What's New, Industry News by Accessories Staff

yooxParis and Milan—While Amazon has denied reports it has been in talks to acquire Net-A-Porter, Italian online retailer Yoox, however, confirmed today that it is interested in buying the Richemont-owned luxury websi

In a statement confirming the negotiations, Yoox said it would provide an update as aoon and possible but declined to c omment further. According to Reuters, Yoox and Net-a-Porter were trying to resuscitate merger talks that took place more than a year ago to better fight cut-throat competition.

“The deal, which could be announced as early as on Tuesday, would combine Yoox’s leading discounts offer with Net-a-Porter’s full price, current season items,” Reuters said. “It would also better equip the pair against competition, particularly in Asia and the United States, and allow them to negotiate better courier deals and terms with client brands.”

Net-a-Porter is estimated to have sales of more than 700 million euros last year. Analysts estimate Net to be to be worth between 1.3 billion and 1.5 billion euros using industry multiples.

Yoox had revenues of 524.3 million euros in 2014, up 15% (17.7% at constant exchange rates).  Net-A-Porter had sales gain of 22% to 532.7 million pounds sterling in year ending March 2014.

 

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