Saturday, February 23, 2019

Is Net-a-Porter going public?


The owner of luxury retailer Net-a-Porter is said to be considering an initial public offering for the brand.

Lux Swiss conglomerate Richemont has supposedly had talks with banks to discuss ‘options‘ for the global e-tailer. A sale may also be considered.

According to sources who spoke to Bloomberg, no final decisions on either a sale or an IPO have been reached but any verdicts remain to be seen.

Currently, Net-a-Porter is unprofitable but it made sales of £440m last year and is now worth £2bn, roughly six times the value when Richemont invested, according to Bank Vontobel.

Yesterday, Net-a-Porter launched its first ‘fantasy gift guide‘ – five gift options aimed at the woman who has everything.

For £2,000, customers can give ‘The Ultimate Beauty Kit‘, where a beauty expert for Net-a-Porter will create a bespoke selection of beauty products tailored to the recipient.

For £15,000 or £31,000, a personal shopper will curate outfits for any need for a period of six months, gift receivers will also enjoy access to new products first, exclusive previews and the ability to pre-order favourites.

£18,500 will buy ‘The Bag Subscription‘, which allows recipients to choose one bag every month for a year.

For £26,500, consumers will be able to purchase a shoe subscription, giving loved ones the opportunity to choose a pair of shoes every week, with the help of a personal shopper, for a year.

The most high end option comes in at priceless. Coined ‘The Endless Shopping Bag‘, Net-a-Porter customers can decide to give the gift of unlimited store credit for a year, where recipients will be able to indulge at any given time along with a dedicated personal stylist, all at the gift giver‘s expense.

Buying Manager Sasha Sarokin described the choices as “the ultimate luxury”.


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