Amazon.com, Inc. (NASDAQ:AMZN) is well known for its diversity in business. Amazon.com, Inc. (NASDAQ:AMZN) offers a wide variety of products through its eCommerce business. But it doesn’t seem to have a strong hold on the high-end fashion business. The Street’s Sasha Salama reported about Amazon.com, Inc. (NASDAQ:AMZN)’s interest in buying the high-end fashion retailer Net-a-Porter.
Salama said that this might be one of the biggest acquisitions of Amazon.com, Inc. (NASDAQ:AMZN), if it goes through as planned. She pointed at Forbes’ comments that this deal is in the very early stages and could fall apart as well.
“Amazon is reportedly considering what might be its biggest acquisition yet – a purchase of online luxury retailer Net-a-Porter. But Forbes says negotiations are still in the early stages and could actually fall apart. The deal first reportedly valued Net-a-Porter at $2.16 billion. But, citing a person familiar with the situation, Forbes says the deal could value Net-a-Porter lower than that. Amazon has long eyed the high-end fashion retail sector where the e-commerce giant lacks a foothold. Just last year, Amazon was reportedly in talks to buy Indian fashion retailer Jabong.com for $1.2 billion but nothing actually panned out there,” Salama reported
Net-a-Porter is an online high-end fashion retailer owned by the luxury goods group Richemont. Richemont bought the online luxury retailer in 2010. Salama mentioned that Amazon.com, Inc. (NASDAQ:AMZN) was always interested in adding the high-end fashion company to its eCommerce portfolio. She pointed to Amazon.com, Inc. (NASDAQ:AMZN)’s attempt to buy an Indian fashion retailer Jabong.com for about $1.2 billion, which later fell apart.
Salama said that according to Forbes, Amazon.com, Inc. (NASDAQ:AMZN)’s deal with Net-a-Porter was initially valued at $2.16 billion. But Forbes said that the deal could have a much lower value than that.
If this deal goes through successfully, what could be the impact on Amazon.com, Inc. (NASDAQ:AMZN)’s stock? But that is a big if, since the deal is in very early stages and the failures of these types of deals are nothing new to Amazon.com, Inc. (NASDAQ:AMZN).
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