Well, it looks like Net-A-Porter is up for grabs. The online luxury retailer is reportedly for sale, and analysts suggest it could command a value of up to €2 billion (roughly $2.16 billion). Early last week rumors began to surface about Amazon snapping up the e-commerce giant, but it looks like Yoox has stepped in, confirming that they too are in talks to buy the brand. As Amazon has been looking to boost its designer sales since last year, this could be the catalyst needed to expand into the luxury market—on the other hand a purchase by Yoox could merge the two retailers into one trusted, high-end shopping mecca.
Yoox, which is known for its own online site as well as powering those of Valentino, Moschino and Marni, released an official announcement this morning stating: “With reference to what has appeared in the press, Yoox S.p.A. clarifies that discussions are currently underway with Compagnie Financière Richemont SA regarding a potential business combination between YOOX and the Net-A-Porter Group Ltd.” Yoox stocks shot up by almost 10 percent following the first whispers of merger talks on Friday.
While Amazon may have been first to the plate for negotiations with Net-A-Porter, things are not looking good for the online giant as they seem to be stuck in a perfect Catch-22—they are trying to purchase Net-A-Porter to build credibility in the luxury market, but the rumor mill is suggesting they may not be credible enough to warrant a merger. Currently Yoox has stated they “will update the market as appropriate in due course and cannot comment further at this stage,” and estimates that a deal could be announced as early as Tuesday.
