As of late, there have been many rumors surrounding the fate of Net-a-Porter. Late last week, the e-tailer made headlines over a possible purchase by Amazon. Now it seems that the luxury online fashion destination could be joining forces with Yoox, another high-end website owned by parent company Richemont.
A rep from Yoox has confirmed to The Wall Street Journal, that they are negotiating with Net-a-Porter on a “business combination,” restarting talks that fell flat in 2013. A merger between the two companies could be good for Richemont, which has been struggling to make a profit off Net-a-Porter. The e-tailer’s distribution centers are part of the reason why Net-a-Porter has been so expensive for Richemont, so perhaps combining the sites will help remedy some of these issues.
Yoox’s shares have already experienced a jump in the stock market since the announcement, increasing 9.4% to €23.07 (roughly $24.97) a share.