The Group announces that its acquisition of shares in Net-A-Porter Limited, as a result of the offer announced on 1 April 2010, has been completed.
Press release
Richemont will hold an effective economic interest of more than 93 per cent in the issued ordinary capital of Net-A-Porter.
Net-A-Porter Limited owns Net-A-Porter.com, the premier online luxury fashion retailer. Established in 2000, it features collections from over 300 of the world's leading designers and offers unrivalled customer service; it ships to over 170 countries worldwide and recently celebrated its millionth order.
Net-A-Porter Limited's unaudited turnover for the financial year ended 31 January 2010 was approximately £ 120 million; it employs some 600 staff at its principal operations centres in London and New York.
Net-A-Porter will operate as an independent entity alongside Richemont's other luxury goods businesses.
