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Richemont mulls Net-a-Porter IPO

Richemont is considering an initial public offering of as soon as next year, according to Bloomberg.

The jewellery maker has held talks with banks to discuss options for the London-based company, sources close to the situation told the news agency.

Richemont bought the two thirds of Net-a-Porter it didn’t already own in 2010 for £350m. Bloomberg said René Weber, an analyst at Bank Vontobel, estimates Net-a-Porter’s sales reached €580m in the year to March and will be about €660m for fiscal 2015.

A final decision on a sale or IPO has not been made and Richemont may decide to keep the luxury etailer.

Net-a-Porter founder Natalie Massenet and Mark Sebba, former chief executive, were joint winners of the Fashion Retailing Personality of the Year, sponsored by Allport Cargo Services, last night at the Drapers Awards.

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