Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Net-a-porter will not float

Net-a-porter.com, the luxury fashion etailer, has said it is trading strongly and has no intention to float on the stock exchange.

Net-a-porter, which is 28%-owned by luxury group Richemont, told Reuters it did not need to raise cash and would not follow the lead of Italian luxury etailer Yoox, which is due to float in Milan next month.

Net-a-porter, which was founded in 1999 by ex-fashion journalist Natalie Massanet, who owns a 17% share in the company with her husband, said the etailer continued to grow strongly. Massanet told Reuters that a public listing “has always been there as a potential exit for shareholders but it is not something we are focusing on”.

She added: “We don’t need to raise money, we run off our own steam. Our shareholders are very happy. They are there for the long run.”

Net-a-porter, whose biggest markets are the UK, the US and continental Europe, achieved a pre-tax profit of £10.1m in the year to January 2009 on sales growth of 47.8% to £81.5m.

Net-a-porter also runs discount luxury fashion etail site theOutnet.com and runs the back office for Jimmy Choo’s online operations.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.