October 10, 2013 / 4:31 PM / in 4 years

Richemont says Net-a-Porter unit is not for sale

ZURICH (Reuters) - Richemont SA on Thursday said its online fashion retail unit Net-a-Porter was not for sale.

“Richemont has a long-standing policy of not commenting on market rumors. Exceptionally in this case, Richemont wishes to make it clear that The Net-A-Porter Group is not for sale,” the company said in a statement.

On Wednesday Italian newspaper Il Sole 24 Ore reported that Net-a-Porter had held talks with rival Italian retailer Yoox.

Yoox on Wednesday denied it was in talks with Swiss luxury goods group Richemont over a possible all-paper merger with competitor Net-a-Porter.

Reporting by Edward Taylor; Editing by Mark Potter

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