Amazon is said to be in talks to purchase Net-a-Porter

Amazon is said to be in talks to purchase Net-a-Porter

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Editor: Buro 24/7

According to sources, Amazon is testing the water and considering a luxury giant purchase – eyeing up to possibilities to acquire market leader

According to WWD, Amazon have been engaged in "ongoing talks" to purchase luxury eCommerce giant Net-a-Porter. Natalie Massanet's online shopping empire could command a valuation of up to 2 billion euros.

The specific details are unclear, and according to the report an official spokesperson for Amazon declined to comment. 

Amazon have been actively looking to buy an eCommerce business, and the opportunity to own the Compagnie Financière Richemont Net-a-Porter (which it bought in 2010) would be an incredibly lucrative one. 

Luca Solca, managing director at investment company Exane BNP Paribas, said that one possibility for Richmont with Net-a-Porter would be for it to monetize the value of the fashion e-tailer, and sell it to a company willing to invest in pure-play luxury retail in the long term. "One ideal candidate for that could potentially be Amazon," Solca told WWD. "Amazon needs a separate mall to engage in luxury credibly, sort of what Tao Bao does with Tmall."

Amazon have made no attempts to hide its active pursuit of the fashion industry, which experts say the online giant sees as a key area of potential growth and is actually already one of its key sectors. In February the Website announced that it had hired editor Caroline Palmer, it also opened its first fashion photography studio in Shoreditch, London late last year.

Buro 24/7 Middle East will monitor this story and keep you updated.