Amazon (NASDAQ:AMZN) is in talks to buy e-shopping site Net-a-Porter, which is valued around $2.19 billion.
Amazon refused to comment on the matter and details were not disclosed, reported Women's Wear Daily. However, the e-commerce giant has been looking to buy a luxury online company, and rumors are flying that Compagnie Financiere Richemont plans to spin off Net-a-Porter, which it bought in 2010.
"Amazon needs a separate mall to engage in luxury credibly, sort of what Tao Bao does with Tmall," Luca Solca, managing director at Exane BNP Paribas, told Women's Wear Daily. And Net-a-Porter would give Amazon that initial step up.
Amazon sees fashion as a key area of potential growth. Recently, the e-commerce giant opened an online store on Alibaba's (NYSE:BABA) Tmall as it looks to expand in China. Amazon joined other fashion retailers on Tmall including Zara's owner Inditex, Burberry and Asos.com.
Last month, Amazon's fashion sites became the presenting sponsor of New York Fashion Week.
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