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Natalie Massenet is leaving luxury e-commerce Net-a-Porter, Pret-a-Reporter has confirmed.
The news was first reported by Bloomberg and announced in a tweet from The New York Times fashion director/critic Vanessa Friedman.
Massenet, who founded the online retailer in 2000, has tendered her resignation after returning from vacation, according to Bloomberg‘s unnamed source “with direct knowledge of the matter.” She will reportedly leave the company with more than $153 million after selling her shares in Net-a-Porter.
According to her personal Instagram account, her profile still reads: “Executive Chairman of the Net-a-porter group.” Massenet, a former Women’s Wear Daily staffer, also currently serves as chairman of the British Fashion Council.
Read more Net-a-Porter Launches Social Network
The news come on the heels of Net-a-Porter’s merger with Yoox, which is expected to close this month. Yoox agreed to buy the luxury e-retailer in March.
Yoox issued the following statement, confirming Massenet’s resignation:
YOOX S.p.A. (MTA:YOOX) announces that, following Natalie Massenet’s tendering of her resignation today as Executive Chairman of THE-NET-A-PORTER GROUP, Ms. Massenet will not be a member of the Board of Directors of the new Group, which will result from the upcoming merger.
12:25 p.m. Wednesday, Sept. 2: Updated with a statement from Yoox.
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