As the executive chairman of Net-a-Porter, Natalie Massenet is currently gathering estimates on the value of the business from potential bidders and bankers, so say financial advisers.

The news has sparked speculation that luxury goods group Richemont may be looking to sell, or perhaps float, Net-a-Porter.

However it now appears that may not be happening and instead, Massenet's actions may be linked to an agreement with Richemont that could give her a major payout next year, based on Net-a-Porter's huge value.

"It would make sense for Massenet to put feelers out," said one London-based financial adviser. "But I don't think it would make sense for Richemont to float the business."

Richemont, which also owns and massively profits from Cartier and Van Cleef & Arpels, acquired control of Net-a-Porter in 2010 in a 392 million euro deal.

Massenet took on shares that "carry an economic entitlement equivalent to 14% of the increase in equity value of N-A-P (Net-a-Porter) over the period until March 31 2015", according to the group's annual report in 2010.

Using peers such as ASOS and Yoox as a benchmark, analysts say that Net-a-Porter could be worth around 1.4 billion euros. And based on that and the agreement, the increase would work out at around at a healthy $174 million for Massenet. Not bad for a project that started life with a very different outlook indeed...