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Net-A-Porter Founder Natalie Massenet Resigns

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According to Bloomberg Business, Net-A-Porter founder Natalie Massenet has resigned from the company. A source tells Bloomberg that she tendered her resignation after returning from a vacation, and the news was later officially confirmed. She walks away from the retailer with $153 million, after reportedly selling a number of shares in Net-A-Porter.

Net-A-Porter announced plans to merge with online luxury retail competitor Yoox back in March, and the deal is expected to be finalized this month. Since the announcement of the merger, a weird spate of press has followed in which Yoox CEO Federico Marchetti made it clear that he was still the boss of the new operation and Massenet reportedly got in deep trouble for speaking to New York Magazine for a recent profile on the company, according to the NY Post.

There were other hints that the merger might not be as perfect as Marchetti has described it to be: "Natalie and her team have created a company that has a brand name in high fashion, with multiple business lines and editorial content," Carmen Busquets, Net-A-Porter's original investor, told WWD in early August. "Why merge it with a discounter? Would Cartier merge with Swatch?"