Richemont acquires full control of Net-A-Porter
The deal is valued at $343 million, according to Bloomberg News. Richemont said the total value of Net-A-Porter is $533 million.
Net-A-Porter will continue to operate as a standalone business, according to a Richemont statement. Natalie Massenet will continue to lead Net-A-Porter as executive chairman.
Representatives from both Richemont and Net-A-Porter could not be immediately reached for comment.