M&As

Amazon rumored to buy luxury retailer

Natalie Massenet, founder of Net-a-Porter. Jonathan Player/The New York Times

Amazon.com is currently in talks to buy the online high-end fashion retailer Net-A-Porter. While the negotiations are reportedly still in a very early stage, such an acquisition could be Amazon’s largest ever. The fashion designer portal was founded 15 years ago in London by Natalie Massenet — once described as “fashion’s favourite self-made success story” — and was bought in 2010 for 392 million Euros by luxury goods group. While original reporting on the deal by Women’s Wear Daily cited a source speculating that Amazon could acquire the company for about $2.16 billion, a different source speaking to Forbes, said the company is likely to be valued at a lower figure. Amazon has long been looking to break into the online high-end fashion business, so a potential deal would represent a new commitment to an area in online retail where they lack a commanding presence.

Read the full story at Forbes.

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