Reuters logo
UPDATE 1-Amazon in talks to buy online luxury retailer Net-a-Porter -Forbes
March 27, 2015 / 10:36 AM / 3 years ago

UPDATE 1-Amazon in talks to buy online luxury retailer Net-a-Porter -Forbes

(Adds “no comment” from Net-a-Porter in paragraph 7)

March 27 (Reuters) - Amazon.com is in talks to buy online luxury retailer Net-a-porter in what could be the biggest acquisition yet for the e-commerce giant, but the negotiations are in early stages and could fall apart, Forbes reported, citing a person familiar with the matter.

The potential deal, first reported by Women's Wear Daily, could value Net-a-Porter lower than the valuation of 2 billion euros ($2.16 billion) reported by the fashion industry trade journal, Forbes reported on Thursday, citing the person. (onforb.es/1IBlus9)

Seattle-based Amazon has long eyed the high-end fashion retail sector and any deal for Net-a-Porter would mean a new commitment in an area where the company lacks a strong presence, Forbes said.

"It's Day 1 in the category," Amazon Chief Executive Jeff Bezos told the New York Times in an interview in 2012, saying the company was making a "significant" investment in fashion to convince top brands that it wanted to work with them, not against them. (nyti.ms/1IBnGjk)

Media reports in 2014 said Amazon was in talks to buy Indian fashion retailer Jabong.com for $1.2 billion.

Net-a-Porter is owned by luxury goods group Richemont , which bought the London-based company for 392 million euros in 2010.

A spokeswoman for Net-a-Porter said the company does not comment on industry speculation.

Amazon.com and Richemont could not be immediately reached for comment outside regular business hours. ($1 = 0.9243 euros) (Reporting by Ankush Sharma in Bengaluru; Editing by Anupama Dwivedi)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below