Pursuits
Richemont’s Net-A-Porter May Fetch $3.4 Billion, Vontobel Says
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Cie. Financiere Richemont SA’s online fashion retailer Net-a-Porter may be worth as much as 2.5 billion euros ($3.4 billion) based on a comparison with the possible value of German rival Zalando AG, according to Bank Vontobel AG.
Rene Weber, an analyst at Bank Vontobel, estimated Net-a-Porter sales last year at 550 million euros. While the unit is unprofitable, it generates positive cash flow, Weber said today in a note to clients. Based on a multiple of 3.7 to 4.3 times sales, Net-a-Porter could be worth 6 percent to 7 percent of Richemont’s total market value of about 47.6 billion Swiss francs ($52.8 billion).