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Founders flee ASOS and Net-A-Porter

Thursday, September 03, 2015 - 01:39

The online fashion industry is coming to terms with changes at the top of two big European firms. As Grace Pascoe reports Natalie Massenet has reportedly left Net-A-Porter - the company she founded. The news came just a day after the resignation of Nick Robertson - the chief executive at ASOS.

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Online fashion founders hang up their hats. Net-A-Porter's founder and executive chairman Natalie Massenet quits. Just hours after ASOS's CEO Nick Robertson stepped down. Both after 15 years at the helm. Bill Blain is from Mint Partners. (SOUNDBITE) (English) MINT PARTNERS, CAPITAL MARKETS STRATEGIST, BILL BLAIN, SAYING: "I think there is always concern when you see the driving force behind a new disruptive technology leave a company that they have founded. It opens the whole question of is that disruptive technology really on line for working and I think that is the concern we have at the moment with many companies." Luxury online retailer- Net-A-Porter, owned by Swiss group Richemont, is half-way through merging with Italy's mail order retailer- Yoox. Some insiders say Massenet and Yoox's head Federico Marchetti did not get on. At ASOS Nick Robertson hands the reigns over to Nick Beighton. Continuity is key for the company. And the two Nicks have worked in tandem for the past six years. Robertson transformed the Internet start-up into a retail powerhouse with millions of fans around the world. His resignation saw shares dip over 5 percent But not for long - analysts were buoyed by Robertson remaining as a non-executive director. And saw the succession as orderly. Net-A-Porter's is orderly too. But some reports suggest it may be costly - Massenet purportedly leaves with a payment of over 100 million euros.

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Founders flee ASOS and Net-A-Porter

Thursday, September 03, 2015 - 01:39