The merger between Yoox e Net-A-Porter it is getting closer. Today, in fact, the shareholders' meeting of the Italian group active in e-commerce gave the green light to the merger with Net-A-Porter by a very large majority. Of the 62,93% of capital present, only 0,08% abstained while the rest voted in favour.
THEoperation provides for the creation of a newco in which to bring together the activities of the two groups, which today bring together an aggregate turnover of around 1,3 billion euros. Although Richemont (which controls Net-a-Porter) will have 50% of the capital of the new group, voting rights will be limited to 25%, to allow the new company to act independently.
The CEO of Yoox is satisfied Federico Marchetti, who commented on the almost unanimous vote of the assembly: “It means that it's an operation that everyone liked. We have worked to make the company independent and to make our shareholders happy".
