Natalie Massenet, the founder and chairman of the luxury online retailer Net-A-Porter, has resigned just ahead of the website’s merger with Yoox Spa. Having sold her Net-A-Porter shares, she leaves with more than US $153 million.
In March, it was negotiated that Yoox would buy Net-A-Porter from Cie. Financiere Richemont SA, and the deal, which is expected to close this month, will officialize the launch of the largest online luxury goods retailer. Massenet was lined up to be the chairman. At the time of the announcement, she stated, “We’ve only just begun. We’re going to be the same, but bigger.”
Massenet, a former WWD fashion journalist, founded Net-A-Porter in 2000. She is currently Chairman of the British Fashion Council and the non-competition clause in her contract states that she must wait a year before working at any other online e-commerce site. It is to be seen what her next move will be.
