Richemont acquires shares in NET-A-PORTER

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Richemont announces that its acquisition of shares in NET-A PORTER Limited, as a result of the offer announced on 1 April 2010, has been completed. As a consequence, Richemont will hold an effective economic interest of more than 93 per cent in the issued ordinary capital of NET-A PORTER.

NET-A-PORTER Limited owns NET-A-PORTER.COM, the premier online luxury fashion retailer. Established in 2000, it features collections from over 300 of the world’s leading designers and offers unrivalled customer service; it ships to over 170 countries worldwide and recently celebrated its millionth order.

NET-A-PORTER Limited’s unaudited turnover for the financial year ended 31 January 2010 was approximately £ 120 million; it employs some 600 staff at its principal operations centres in London and New York.

NET-A-PORTER will operate as an independent entity alongside Richemont's other luxury goods businesses.