Net-a-Porter may seek new investment partner
- Published: 12 May 2008 09:44
- Author: Jessica Price Brown
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- Last Updated: 12 May 2008 09:57
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Net-a-Porter, the designer fashion etailer, is understood to be conducting a review of the business which could lead to a sale of part of the business.
According to The Sunday Telegraph, Net-a-Porter has drafted in an investment bank to advise on options for the business.
Net-a-Porter founder Natalie Massenet is thought to own 17% of the company while Richemont owns 28% and Baywinds, a Venezuelan company, owns also owns 28%.
Net-a-Porter had sales of £37.2 million for the year ended January 31 2007, while profits rose 61.5% to £2.1m.
Last week, Net-a-Porter drafted in Colin McDowell, the international fashion commentator, as creative director-at-large.
Massenet was one of the pioneers of selling fashion online when she launched the site in June 2000.
Net-a-Porter were unavailable for comment.
