Yoox Group to Merge with Net-a-Porter

Yoox Group to Merge with Net-a-Porter

Yoox Group to Merge with Net-a-Porter

The Yoox Group announced to merge with luxury e-commerce rival Net-a-Porter in all-share deal.

 This deal comes year after the first reports that Yook looking for companies with potential “business combination”.

 “This is a game-changing merger between two pioneering companies that have already radically transformed the marketplace since 2000 and will now shift the industry paradigm once again,” Federico Marchetti, the founder and chief executive of Yoox, said in a news release. “Together, we plan to expand on our many combined successes and industry breadth to strengthen partnerships with the world’s leading luxury brands and harness a significant untapped growth potential.”

 Founder and CEO of Yoox Group, Federico Marchetti, will serve as the CEO of combined company, and Natalie Massenet, founder of Net-a-Porter, will executive chairwoman.

 “Today, we open the doors to the world’s biggest luxury fashion store,” Ms. Massenet said.

“It is a store that never closes, a store without geographical borders, a store that connects with, inspires, serves and offers millions of style-conscious global consumers access to the finest designer labels in fashion.”

 Compagnie Financière Richemont, the parent company of Net-a-Porter, will receive 50 percent of the combined company’s shares and hold 25 percent of its voting rights.

 Net-a-Porter’s website sells jewelry, clothing and other accessories from labels and top designers, including Valentino, Alexander McQueen, Dolce & Gabbana.

 Yoox operates the online stores of more than 30 other luxury brands, including Valentino, Armani and Lanvin.

 The transaction is subject to regulatory and shareholder approval and close the deal is expected in September.

Mr. Stakebay says:

The deal will create online luxury fashion retailer with combined revenue of € 1.3 Billion, or $1.4 Billion in 2014. The combined company will called Yoox Net-a-Porter Group and will looking for possibilities to raise up to €200 Million in capital to fund future growth oportunities.

 Founder and CEO of YOOX GROUP……………..FEDERICO MARCHETTI………..2000-present……$ 3 952 000 (2014)

 CEO and Director of Net-A-Porter………………….NATALIA MASSENET…………2000-present……..xxxxxxxx (2014)

YOOX GROUP

RICHEMONT

Revenue

€ 455.6 Million (2013)

€ 10.649 Billion (2014)

Operating income

€ 23.254 Million (2013)

€ 2.419 Billion (2014)

Profit

€ 12.602 Million (2013)

€ 2.072 Billion (2014)

Total assets

€ 112.1 Million (2013)

€ 15.918 Billion (2014)

Total Equity

€ 108.9 Million (2013)

€ 11.964 Billion (2014)

Employees

713 (2013)

29980 (2014)

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