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Yoox takeover of Net-a-Porter effective today

A deal to merge rival etailers Net-a-Porter and Yoox has today completed, creating an online luxury fashion giant with combined revenues of €1.3bn (£940m) and profits of €108m (£79m).

Shares in the newly formed Yoox Net-a-Porter Group, a deal which was announced in March, will now be listed on the Milan stock exchange.

The business is being led solely by Yoox founder Federico Marchetti as chief executive after Net-a-Porter founder Natalie Massenet resigned as executive chairman in September. 

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