Natalie Massenet On Why She's Walking Away From Net-A-Porter

With the news of her departure from Net-A-Porter, on the eve of their merger with the Yoox group, Natalie Massenet has released a statement explaining her decision to leave the company she founded 15-years-ago.

After 15 extraordinary and exceptional years at THE NET-A-PORTER GROUP, the completion of the merger with Yoox Group is the right time for me to move on to explore new ideas and opportunities.

I am immensely proud of the achievements of everyone who has helped build the world’s greatest game changing luxury fashion company, and I thank them all for helping me realise and surpass our dreams. I also want to thank our millions of customers around the world for continuing to be our greatest champions and inspiration, and the brands and designers who embarked with me on this digital journey over a decade ago and who made THE NET-A-PORTER GROUP possible.

The business I started in 2000 could not be in better shape today. Having joined forces with Yoox Group, the company will be bigger, stronger and superbly well positioned under Federico’s leadership to lead the industry and create the future of fashion. As a continuing loyal customer I will be excited to see the next chapters for this amazing business.

YOOX ANNOUNCES MERGER WITH NET-A-PORTER

Net-A-Porter Founder and Executive Chairman, Natalie Massenet, has revealed why she decided to resign from the company she founded 15 years ago. Photo: Getty Images

As for my own future, my entrepreneurial drive is as strong today as it always has been, and my passion for innovation will continue to be my greatest guide in business. The incredible experiences and memories of the past decade and a half and the people I have had the honour to work alongside will always be an inspiration to me.

The Yoox Group announced their intentions to purchase the Net-A-Porter Group, which includes MR PORTER and The Outnet, back in March, with the value of the deal being estimated at around $US2.5 billion.

After Massenet's resignation yesterday, Yoox released a statement, which read:

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.

While the news may have come as a shock to many, insiders believe the move was inevitable, according to WWD, her new "marginal position, confined to an editorial and communications role" was understandably a hard one to accept for the founder of the company.