Frasers Group has appointed Goldman Sachs as it considers snapping up Yoox Net-a-Porter from Swiss luxury goods company Richemont.
Frasers is understood to have hired the investment bank to look into the potential takeover, according to Retail Week, and is currently preparing a non-disclosure agreement surrounding a deal.
Richemont is understood to be seeking to carry out the deal for “next to nothing,” after its efforts to sell the fashion brand to Farfetch failed last year following a rescue bid by Coupang.
Related Story
Flannels-owner Frasers Group has been snapping up some of it’s luxury rivals of late in what observers believe is a ploy to take them out of the market.
It placed Matches Fashion into administration in March, less than three months after buying the luxury fashion etailer.
The Mike-Ashley owned group also bought Coggles from THG last month as part of a new multi-year partnership with the online group, which will see the Frasers Plus credit offer integrated into THG’s Ingenuity platform.
It also shut Sunderland indie Aphrodite just months after it acquired it earlier this year, according to Drapers.
Click here to sign up to Retail Gazette‘s free daily email newsletter
