Italian etailer Yoox has entered the running to acquire luxury fashion business Net-a-Porter after tabling a bid that could value the London-based firm at more than £1.3bn.
Milan-listed Yoox, which operates e-commerce sites for brands such as Armani and is valued at €1.3bn (£950m), is understood to have entered talks for a tie-up.
Net-a-Porter, which was founded by former fashion journalist Natalie Massenet in 2000, is currently owned by luxury goods group Richemont. It reported turnover of £533m for the year to March 29 2014, up 23% on the previous year.
Ms Massenet is reportedly finalising a payout to mark five years since the deal with Richemont, which could net her more than €100m (£73m).