Milan-based etailer Yoox has confirmed it is in talks about a possible merger or acquisition of luxury etailer Net-a-Porter.
Yoox, which sells through its eponymous site as well as operating ecommerce sites for brands including Armani, is worth €1.3bn and has re-entered talks with Net-a-Porter, after initial discussions fell through more than a year ago.
Both Richemont and Yoox confirmed the talks regarding a “potential business combination” between the two companies in a statement today.
They said the companies will “update the market as appropriate in due course and cannot comment further at this stage”.
Net-a-Porter declined to comment.