Net a Porter Founder Natalie Massenet Sells Her Stake in the Fashion Website For 50m Pounds
In latest fashion news, Natalie Massenet, founder of Net-a-Porter is getting a cool £50 million for selling her stake in the business.
The web site needs no introduction in fashion world as it is one of the biggest in the business loved by stars like Cheryl Cole and favored by Cartier owners Richemont.
Natalie who has been a Tatler fashion editor before is selling her share of the fashion website but will take care of the goings-on in the business.
Her share is being bought by Swiss firm Richemont which is already owner of a third of Net-a-Porter shares.
Nassenet had started this business with a small loan in year 2000. She has been awarded an MBE last year.
The website is known for ranges from designers like Stella McCartney and Victoria Beckham in addition to selling clothes from Sex and the City films.
Currently you will find the most expensive item on the website as a pair of Swarovski crystalcovered shoes priced at £2,065. The site gets over 3 million visitors in a month. Last year's sales stand at £120m and the company has a staff of 600 in London and New York.
With the announcement of Natalie's selling her share came the shifting of company to a new HQ at Westfields shopping centre, West London.
People in the know say that the company is planning to expand its business by getting into menswear too.
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