From National Jeweler
Geneva--Swiss luxury goods conglomerate Richemont Group--owner of longtime high-end stalwarts such as Cartier, Piaget and Van Cleef and Arpels--has made an offer to acquire a relative newcomer to the land of luxe: United Kingdom-based online retailer Net-a-Porter.
Richemont currently holds 33 percent of the issued share capital of Net-a-Porter Limited and says the purchase offer--valued at 350 million pounds or about $534 million-- has the support of both Net-A-Porter's senior management and the founder of the company, Natalie Massenet, who established Net-A-Porter in 2000.
$534 million, wow. Not only did I not know how successful Net-A-Porter was, I didn't realize that it had 600 employees which is a huge number for an internet retail business.
Richemont also sees value in the online market for vintage/pre-owned jewelry, watches and other luxury goods.
The deal would not be Richemont's only alliance with a luxury online retailer. Although its merchandise is independently curated, Portero.com is backed financially by Richemont. Portero deals in certified pre-owned, vintage and collectible merchandise--including handbags, watches, jewelry and accessories--and has been actively pursuing new business with high-end jewelry retailers that are looking for a market for pre-owned luxury timepieces.
So Richemont...have you ever heard of a little business called Beladora?
We're ready to take your call....