Compagnie Financière Richemont has denied that Net-a-porter Group is for sale despite the front page story Thursday in WWD quoting sources saying that Richemont was in talks, earlier this year, to sell to Yoox Group.
"Richemont has a long-standing policy of not commenting on market rumors," Richemont said. "Exceptionally in this case, Richemont wishes to make it clear that the Net-a-porter Group is not for sale."
Yoox also issued a statement earlier this week denying it was in talks with Richemont about acquiring Net-a-porter or merging.
Yoox founder Federico Marchetti later told WWD: "Yoox is a global brand and as such it obviously grows not only through internal lines, but it often examines dossiers about possible acquisitions. As I have already said, at the moment there are no negotiations taking place with Richemont."
Industry sources told WWD that Yoox was in merger and acquisitions talks earlier this year with Net-a-porter as
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