31 March 2015

YOOX and NET-A-PORTER confirm merger

London-based fashion e-tailer NET-A-PORTER.COM has announced it will merge with online luxury Italian e-retailer YOOX. The transaction will create the YOOX NET-A-PORTER Group, the independent leading online luxury fashion retailer worldwide, with combined 2014 net revenues of €1.3 billion. YOOX will remain listed upon the Milan stock exchange and incorporated in Italy, and at the completion of the merger, will be renamed YOOX NET-A-PORTER Group. Federico Marchetti, Founder and CEO of YOOX, will be the CEO of YOOX NET-A-PORTER Group; while Natalie Massenet, Founder and Executive Chairman of NET-A-PORTER, will serve as Executive Chairman of YOOX NET-A-PORTER Group with defined responsibilities. Following completion, the YOOX NET-A-PORTER Group intends to launch a capital increase of up to €200m to fund future growth opportunities and the integration, potentially allow for the entry of strategic investors and retain maximum balance sheet flexibility.

Twitter: @yoox / @NETAPORTER

Click on the pink links below for full details in DIARY directory:
NET-A-PORTER.COM in 'in-house PR'

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