- Danielle Wightman-Stone |
The Competitions and Markets Authority (CMA) has launched an inquiry into the merger of luxury online retailer Net-a-Porter with its Italian competitor Yoox.
Net-a-Porter’s owner, Richemont, confirmed the 1.3 billion euro merger in March, and stated that the two brands would collectively been known as the Yoox-Net-a-Porter group.
The CMA has raised a question mark over the merger, as it has said that combining two fashion e-commerce giants could lead to the "substantial lessening of competition" in the markets that it operates, and it is calling on comments from “any interested party”.
The government organisation will make a decision over whether to pursue the investigation further on September 7.