Richemont to take majority stake in Net-a-Porter

04/1/2010 | Financial Times (tiered subscription model)

Swiss luxury-goods group Richemont, which owns the Cartier and Mont Blanc brands, is poised to buy a majority stake in Net-a-Porter in a deal that values the online company at £350 million. As a result, Net-A-Porter founder Natalie Massenet will net roughly £50 million. Massenet plans to reinvest a portion of those profits back into the company and will stay on as executive chairman.

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