I wonder what Natalie Massenet’s ambitions for Net-a-Porter were when she founded the company in 2000?

The recently announced merger with Yoox will hardly leave Massenet short of cash. But Net-a-Porter was such as a personal project – one which Massenet left her dream career as a fashion journalist to pursue – that it’s hard to imagine that money was her sole motivator. 

So why did Massenet leave? And what will become of her (and of Net-a-Porter) now? 

It’s no exaggeration to say that, with Net-a-Porter, Massenet transformed how luxury fashion is bought online, showing that it doesn’t need to depend on physical stores to sell. The concept that you can buy a designer dress just by ‘clicking’ on an outfit in a magazine format was a major breakthrough, earning her a multitude of accolades and awards.

Massenet saw the potency of this seemingly simple idea, and Net-a-Porter’s exponential growth was all the proof needed to confirm that her idea was a good one. In 2013 McKinsey reported that online luxury sales increased by 20 percent to an estimated €9 billion compared to 2 percent growth of overall sales of luxury goods.  

Buying luxury goods online has become big business, so in a very real way, Massenet has already realised her dream for Net-a-Porter.

Viewed in this light, Massenet’s leaving is fairly unexpected: she has taken Net-a-Porter as far as it could go in terms of breaking new ground, and leaving will free her up to pursue other things.

Like all of the best founders, Massenet is an innovator. More than that, she is a fantastic role model for female businesswomen and, indeed, the business world generally. I look forward to seeing what she does next, whether that’s creating her own brand, becoming an investor, setting up an incubator, or perhaps joining a tech company to make it more fashionable. Whatever it is I think, for her, it would have to combine both technology and fashion.   

Without Massenet at the helm, it’s hard to imagine that Net-a-Porter will remain the same. The role of a good founder is to provide a company with vision and culture – it’s identity. Massenet’s absence will no doubt detract from that.

The true power of a founder can perhaps best be seen with Apple. When Steve Jobs returned to the company in 1997, he saw the potential of making technology sexy and fashionable (the first iPod was released in 2001).

Jobs’ vision transformed Apple from a profitable company to a global behemoth, and the company he founded years before finally matured into the company it always had the capacity to become.

Perhaps we will see something similar happen with Jack Wills now that the company’s founder, Peter Williams, has returned. On the other hand, will ASOS founder, Nick Robertson’s, decision to leave have a negative effect on that company (shares have already dropped 5% following the announcement)? On both counts, we’ll have to see. But one thing’s for sure, and that’s the fact that a talented founder’s vision can’t be underestimated.

What do you think of Natalie Massenet’s decision to leave Net-a-Porter? And what do you think the role of a founder is? 

Email me your thoughts.