Net-A-Porter

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NET-A-PORTER.COM

logo
legal form Corporation
founding 2000
Seat London , UK
management Alison Loehnis
Number of employees approx. 2,500 (2014)
sales 753.8 million euros (2014/15)
Branch E-commerce
Website net-a-porter.com

NET-A-PORTER was founded by Natalie Massenet in 2000 and is an online mail order company for luxury labels based in London .

history

British taxi with NAP advertising

The company was founded in June 2000 by Natalie Massenet , a former fashion journalist. She had the original idea for an online fashion magazine including an online shop while looking for fashion items on the Internet for a photo shoot . Massenet had provided the start-up capital with the help of her then-husband, Arnaud Massenet, an investment banker, friends and other investors. The company name is a suitcase word from the terms Internet and Prêt-à-porter . About her plan to open the Whats New, Pussycat? she had previously been advised against. With 15 employees initially, Massenet launched the online business from her apartment in Chelsea . In the early years it was difficult for Massenet to convince established fashion brands to sell their products on the Internet or on the website of an online retailer. The first orders with other fashion companies came about through friendships with Tamara Mellon ( Jimmy Choo ) and Christopher Bailey ( Burberry ). From the very beginning, Massenet attached great importance to fine packaging material in order to give its mail order customers a positive shopping experience at home.

In 2002 the Swiss luxury goods group Richemont acquired 33% of the shares in Net-A-Porter (NAP). Among other things, this resulted in the inclusion of Chloé accessories in the NAP online shop. In 2004, the company had sales of the equivalent of 22 million US dollars and made a profit for the first time. In 2006 the range comprised around 150 fashion brands, including well-known names such as Fendi , Céline and Pucci . In 2009 annual sales were around £ 120 million. In 2010, Massenet sold an additional 18% stake in NAP to Richemont for an estimated £ 50 million. With the purchase of NAP shares from other investors, Richemont ultimately held around 70% of the company's shares. Massenet remained executive chairwoman of Net-A-Porter. The company was then valued at around £ 350 million.

In April 2009, Massenet launched The Outnet , the outlet version of the NAP website with reduced goods for women. In February 2011, the men's outfitter version of NAP called Mr. Porter was launched. In 2013, cosmetics were added to the NAP portfolio. In 2014, Massenet launched the fashion magazine Porter . In mid-2015, NAP launched the social media network The NET Set . In the 2014/15 financial year, NAP generated its first profit since the Richemont acquisition. In 2015, the company website was viewed by around 6 million people every month.

In March 2015, the Italian fashion group Yoox SpA , headed by Yoox founder Federico Marchetti, bought the shares in NAP from Richemont for around 720 million euros, with Richemont holding a 50% stake and a quarter of the voting rights (on three Years) in the merged company Yoox-Net-a-porter Group (YNAP). Even Amazon.com had shown according to press reports earlier on a NAP takeover interest. The company value of Net-a-porter was put at 1.4 billion euros in this transaction, whereas others had estimated it to be almost double. After conciliation negotiations with NAP minority shareholders, Richemont increased the company's value and paid compensation. In September 2015, Massenet sold its remaining NAP shares to Yoox for around 136 million euros and then left the company. She was replaced by Alison Loehnis, NAP managing director since 2007. Marchetti became CEO of YNAP. In spring 2018, Marchetti added high-quality watches and jewelry to the NAP range.

In May 2018, Richemont completed the takeover process of the Yoox-Net-a-porter Group that had started four months earlier for around 2.8 billion euros. Marchetti, who remained YNAP's chief executive officer, received approximately € 200 million on the deal.

Net-a-Porter sells articles from around 650 fashion brands in 170 countries via its own website.

Individual evidence

  1. ↑ a b c Give material . sz-magazin.de, December 12, 2014
  2. ↑ Yoox Agrees to buy Richemont's Net-a-Porter . fin24.com, May 31, 2015
  3. ^ The spectacular life of Net-a-porter founder Natalie Massenet . businessinsider.com, September 3, 2015
  4. ↑ NET-A-PORTER: Natalie Massenet . startups.co.uk, September 14, 2017
  5. ^ One-click wonder: the rise of Net-a-porter . theguardian.com, July 11, 2010
  6. ^ Richemont to Buy Net-a-Porter . wsj.com, April 2, 2010
  7. ↑ Store Exchange: Net-a-Porter goes for $ 534 million to Richemont . excitingcommerce.de, April 2, 2010
  8. ↑ Richemont takes over Net-a-Porter entirely . textilwirtschaft.de, April 6, 2010
  9. ↑ Mr. Porter . gq-magazin.de, January 14, 2011
  10. ↑ Exclusive! Taking Net-a-Porter's New Social Network for a Test Drive . vogue.com, May 6, 2015
  11. ↑ Net-a-Porter Is Already Profitable by Its Own Measures . fashionista.com, June 15, 2015
  12. ↑ Net-A-Porter moves into profit after a year of digital innovation .internetretailing.net, June 15, 2015
  13. ↑ Net-a-Porter ups its style after making first profit in five years . cityam.com, June 15, 2015
  14. ↑ Net-a-Porter founder Natalie Massenet quits as chairman of the e-retailer ahead of new merger - just weeks after the company was valued at THREE BILLION dollars . dailymail.co.uk, September 2, 2015
  15. ^ Richemont signs agreement to merge The Net-A-Porter Group with YOOX Group . richemont.com, March 31, 2015
  16. ^ The Secret Deal to Merge Net-a-Porter with Yoox . businessofffashion.com, January 16, 2016
  17. ↑ Yoox buys Richemont's Net-a-Porter in all-share deal . reuters.com, March 31, 2015
  18. ↑ Amazon is said to be facing a $ 2 billion takeover . golem.de, March 27, 2015
  19. ↑ The comeback attempt by style icon Natalie Massenet . manager-magazin.de, December 10, 2017
  20. ↑ Why Natalie Massenet Really Left Net-a-Porter . harpersbazaar.com, January 20, 2016
  21. ↑ Massenet leaves Net-a-Porter - as a rich woman . welt.de, September 3, 2015
  22. ↑ This is going to be the new online giant for designer fashion . welt.de, March 31, 2015
  23. ↑ Exclusive: Net-A-Porter Just Launched a Fine Jewelry & Watches Shop You're Going to Love harpersbazaar.com, April 18, 2018
  24. ↑ Richemont luxury goods group is pushing into online retail . manager-magazin.de, January 27, 2018
  25. ↑ Richemont's takeover of Yoox Net-a-Porter completed . retailgazette.co.uk, May 10, 2018
  26. ↑ Richemont takes over Yoox Net-A-Porter entirely . handelszeitung.ch, May 11, 2018

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