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Natalie Massenet resigns from Net-a-Porter

Sources say she was unhappy with the merger with Yoox

By Verinia Khoo | Published: 3 Sep 2015

Natalie M. quits
Photo: Joe Schildhorn/BFA/TPG Images

[Updated 4 September 2015] Natalie Massenet issued a touching statement yesterday where she addressed her former colleagues.

"After some serious soul searching I have taken the decision to retire from The Net-a-Porter Group and to start a new chapter in my life - one where I take the company, the team, the memories, the incredible journey with me in my heart and stand back and position myself in the proud spectator's box and watch the business flourish and grow independently," read her statement. 

Read the full copy here.

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Net-a-Porter founder Natalie Massenet has resigned from her role of executive chairman and will leave the board of the combined company of Net-a-Porter and Italian online fashion retailer Yoox.

Representatives for Natalie have not responded to enquiries about why she decided to exit the company weeks before the merger is finalised. According to the Guardian, Natalie had been unhappy about having to answer to Federico Marchetti, Yoox's founder, who is apparently keen to take on the role of chief executive.

Other sources told WWD that it was Johann Rupert, chairman at Compagnie Financiere Richemont (Net-a-Porter's mother company) who was "dissatisfied with Net-a-Porter because it was not profitable." Sources also said that "Even Porter [the website's magazine] is losing money. That's why Rupert relied on Marchetti."

Whatever the reason may be, there's no denying the fact that Natalie remains a very wealthy woman. Her resignation from the company will leave her with more than £100million (approx. RM660million) after selling her shares.

Related: Net-a-Porter merges with Italian rival Yoox
Related: Join Poppy Delevingne in the Bohemian tribe on The Net Set


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