Friday, May 28, 2010
Natalie Massenet has just made $76 million dollars as the head of Net-a Porter, an e-commerce site that reinvented shopping by delivering internet high fashion labels, and has now sold her 10 year old company to the Richemont group. It has become a world wide phenomenon with people buying a Fendi bag in Russia, YSL dress in NYC, and Bottega Veneta sandals in Greece. Net-aPorter has been bringing in about 10,000 customers a month, even in the recession. Massenet concentrated on stocking less expensive escape products, but 20% of sales are from women who spend $30,000 regardless of the financial meltdown. Massenet , the daughter of an English Chanel model and an American movie publicist, lived in Paris, studied Japanese at UCLA, worked at WWD in the West coast office, then moved to London and worked for Tatler magazine.
She understands U.S. high end consumers and raised $1.2 million dollars by recruiting people from magazines and stores. She has made a dot.com site that is headquartered in London and NYC shine the spotlight on IT and fashion.