Luxury fashion etailer Net-a-porter.com said it is trading strongly and does not intent to float on the stock exchange.
Net-a-porter, which is 28%-owned by luxury group Richemont, told Reuters it did not need to raise cash and would not follow the lead of Italian luxury etailer Yoox, which is due to float in Milan next month.
Net-a-porter, which was founded in 1999 by ex-fashion journalist Natalie Massanet, who owns a 17% share in the company with her husband, said the etailer continued to grow strongly. Massanet told Reuters that a public listing “has always been there as a potential exit for shareholders but it is not something we are focusing on”.
She added: “We don’t need to raise money, we run off our own steam. Our shareholders are very happy. They are there for the long run.”
Net-a-porter, whose biggest markets are the UK, the US and continental Europe, achieved a pre-tax profit of £10.1m in the year to January 2009 on sales growth of 47.8% to £81.5m.
Net-a-porter also runs discount luxury fashion etail site theOutnet.com and runs the back office for Jimmy Choo’s online operations.
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