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Amazon in talks to buy online luxury retailer Net-a-Porter

By
Reuters
Published March 27, 2015, 9:41 a.m. ET

Amazon is in talks to buy online luxury retailer Net-a-porter in what could be the biggest acquisition yet for the e-commerce giant, according to reports.

The two are engaged in “ongoing talks” that would value Net-a-Porter at more than $2 billion, according to Women’s Wear Daily, which first reported on the talks Thursday.

Forbes reported Friday that the discussions are still at an early stage and could fall apart. It also said the price would likely be lower than the $2.16 billion cited by WWD.

Seattle-based Amazon has long eyed the high-end fashion retail sector and any deal for Net-a-Porter would mean a new commitment in an area where the company lacks a strong presence, Forbes said.

Media reports in 2014 said Amazon was in talks to buy Indian fashion retailer Jabong.com for $1.2 billion.

Net-a-Porter is owned by luxury goods group Richemont, which bought the London-based company for 392 million euros ($427 million) in 2010.

A spokeswoman for Net-a-Porter said the company does not comment on industry speculation. Amazon and Richemont could not be immediately reached for comment.