YOOX GROUP AND NET-A-PORTER GROUP MERGE TO CREATE A LEADING ONLINE LUXURY FASHION RETAILER WORLDWIDE

This is a game-changing merger between two pioneering companies that have already radically transformed the marketplace since 2000 and will now shift the industry paradigm once again. Together, we plan to expand on our many combined successes and industry breadth to strengthen partnerships with the world’s leading luxury brands and harness a significant untapped growth potential.

Milan, 31 March 2015 – YOOX S.p.A. the global Internet retailing partner for leading fashion brands, has entered into an agreement with the Compagnie Financière Richemont SA (“Richemont”), controlling shareholder of The Net-A-Porter Group Limited (“Net-A-Porter”), the world’s premier online luxury fashion retailer, on the terms of an all-share merger. The transaction will create the YOOX Net-A-Porter Group (the “Combined Group”), the independent leading online luxury fashion retailer worldwide, with combined 2014 net revenues of €1.3 billion, and Adjusted EBITDA of approximately €108 million[1].

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