Natalie Massenet has stepped down from Net-A-Porter, the online luxury fashion retailer that she founded 15 years ago.
Yoox, which bought Net-A-Porter in March, announced last night that Ms Massenet had tendered her resignation. It said that she would not join the board of the enlarged company when the sale is completed next month.
Under the terms of the deal with Yoox, which runs websites selling luxury goods under its own name and for big fashion houses such as Armani, the Net-A-Porter founder is in line for a payout following an independent valuation of the business, which could be worth as much as £150 million.
Ms Massenet, who turned 50 earlier this year, sold control of her business to Richemont, the owner of the Montblanc