Net-a-Porter founder Natalie Massenet has secured a £100m payout as she quits the luxury fashion business ahead of its merger with Italian etailer Yoox.
As reported by Drapers earlier this week Massenet is stepping down from her role as executive chairman at the etailer.
When Massenet sold the business to Richemont in two instalments in 2010 and 2013, she retained the option to buy back a stake in the company at a fixed price. The deals valued the company at around £350m, according to The Daily Mail.
The merger with Yoox valued Net-a-Porter at £1bn, however following an independent review a new value of £1.5bn has allowed her to receive a larger payout under the terms of her options.