Described as “the perfect fit”, the combination of luxury online retailers Yoox and Net-a-Porter was finalised on Thursday — but with one imperfection: the sudden decision by Net-a-Porter founder Natalie Massenet to resign just hours earlier on Wednesday night.
“We view this departure as a clear loss for Yoox/Net-a-Porter,” said Chiara Battistini, luxury goods analyst at JPMorgan, as the news broke. “Ms Massenet was the vision behind NAP’s strong success, being actively involved in the management of the online group and relationships with brands.”
Ms Massenet, who founded Net-a-Porter in 2000 — the same year that Federico Marchetti set up Yoox — had stayed at the helm of the business after selling it in 2010 to Switzerland’s Richemont in a deal that valued the London-based group at £350m.