Yoox SpA agreed to buy Cie. Financiere Richemont SA’s Net-a-Porter business for stock valued at about 719 million euros ($775 million) to create the world’s biggest online luxury-goods retailer.

The deal will give Richemont a 50 percent stake in Yoox, which will be renamed Yoox Net-a-Porter Group, the Geneva-based owner of the Cartier and Chloe brands said in a statement Tuesday. Yoox’s founder, Federico Marchetti, will be chief executive officer, while Net-A-Porter founder Natalie Massenet will be chairman.

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