Frasers Group has approached Goldman Sachs as it considers snapping up Yoox Net-a-Porter from Swiss luxury goods company Richemont.
Frasers is understood to have approached the investment bank, who is handling the sale, to look into a potential bid, according to Retail Week, and is currently preparing a non-disclosure agreement surrounding a deal.
Richemont is thought to be seeking to carry out the deal for “next to nothing,” after its efforts to sell the fashion brand to Farfetch failed last year following a rescue bid by Coupang.
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Flannels-owner Frasers Group has been snapping up some of it’s luxury rivals of late in what observers believe is a ploy to take them out of the market.
It placed Matches Fashion into administration in March, less than three months after buying the luxury fashion etailer.
The Mike-Ashley owned group also bought Coggles from THG last month as part of a new multi-year partnership with the online group, which will see the Frasers Plus credit offer integrated into THG’s Ingenuity platform.
It also shut Sunderland indie Aphrodite just months after it acquired it earlier this year, Drapers reported.
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