“Last week, Richemont, the Swiss watch and jewellery group that owns Cartier, Van Cleef & Arpels and Montblanc, entered into an agreement to acquire online retailer Net-a-Porter, valuing the UK-based company at £350m. In doing so, it became the first leading luxury conglomerate to purchase a multi-brand virtual store, taking the industry’s involvement with the web to a new level.” – from FT