The spectacular life of Net-a-Porter founder Natalie Massanet

Natalie Massenet, founder and government chairman of on-line trend group Net-A-Porter, stated on Thursday it was the correct time to go away after she resigned abruptly ahead of the completion of a deliberate merger with Italy’s Yoox.

The Net-a-Porter group has confirmed the departure of founder Natalie Massenet as Executive Chairman. The new company may really miss her expertise, her savvy, and her intuition, and especially her relationships with luxury brands, which encouraged many to sell online through Net-a-Porter, the New York Time’s Vanessa Friedman points out.

A former journalist, Ms. Massenet founded Net-a-Porter in 2000.

But money and influence aside, Massenet is described as a fun-loving friend and boss who loves her family and has an uncanny ability to recite lines from “When Harry Met Sally” from memory. Despite the unexpected setback, the merger is set to continue – with Marchetti taking the role of executive chairperson instead. Marchetti will become the CEO.

Having Massenet as chairman alongside Marchetti “might have been hard to manage in the long run”, Carboni said.

Yoox’s shares, which have fallen recently alongside other luxury and fashion stocks because of concerns over the Chinese economy, rose 5.2 percent to 27.9 euros by 0840 GMT, outperforming a rising luxury sector.

“The loss of her ties with the posh business ought to be seen as a crucial unfavorable”, JP Morgan stated in a word.

In a statement Yoox said that Massenet would not be a member of the merged group’s board. As part of the deal Massenet was due to be handed a four per cent stake in the company worth £46m. Massenet’s decision was announced shortly after news revealed that the merger had received full anti-trust clearance, thus paving the way for the deal to be finalised by October. 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.