Net-a-Porter might soon be going public. According to Bloomberg, the luxury e-tailer’s parent company, Cie Financiere Richemont, is considering putting it up on the market. Apparently, Richemont is trying to decide whether to go with a public offering or sell Net-a-Porter altogether.
Rumors of Net-a-Porter going up for sale have been swirling since last year and at the time, Richemont denied those whispers. This year, the website is said to have done $728 million in sales, which is just a few hundred million shy of a billion. Next year, they’re expected to do even better, pulling in $825 million. But for now, Richemont is keeping tight-lipped on its plans for the website.
Early this morning, Net-a-Porter’s Black Friday sale crashed the website, inconveniencing several online shoppers in the U.S. and internationally. Bargain hunters took to Twitter this morning to air their grievances, but since then the website has gone back online – except for the sale section, which is still not accessible. Two hours ago, Net-a-Porter tweeted that the sale would soon return, blaming the “unprecedented demand” for the shut down.
We wonder if a public option would spark a similar feeding frenzy for the e-tailer, but only time will tell.