Yoox agrees Net-a-Porter deal

The deal will create a business with combined net revenues in 2014 of €1.3bn ($1.4bn, £950m)

It says the new group will attract more than two million high-spending customers and some 24 million visitors to its sites a month.

Swiss luxury group Richemont, which owns Net-a-Porter, will hold on to 50 per cent of the shares.

But it will be restricted to only 25 per cent of the voting rights in the new Yoox Net-A-Porter Group.

Federico Marchetti, founder of Yoox, will be chief executive of the new company.

Source: BBC

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