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Richemont to buy Net a Porter

March 15, 2010

Just in: Richemont, who owns properties such as Chloe, Panerai and Azzedine Alaia, is buying Net a Porter for an estimated £350 million. Richemont, who already owns 30% of the retail megasite, is reported to be closing a deal this week. What will this hold for my favorite e-commerce luxury site? I hope they don’t turn it into another E-luxury, and that they start selling some of their watch brands, like Cartier, on the site. I’ll be watching to see what happens! (Credit: BoF)

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