Global luxury giant Richemont said on Thursday it was buying up a pioneering 10-year-old web-based women’s fashion retailer, Net-a-Porter, founded by a former editor and valued at 350 million pounds.

The Swiss group already owns one third of the business, which was created by former fashion journalist Natalie Massenet and employs 600 staff in London and New York.

The deal will turn the website into one of the luxury goods company’s hallmark “maisons,” alongside standalone brands such as Cartier, Dunhill, IWC, Piaget and Van Cleef & Arpels.

Massenet will remain as chief executive and will invest in a Richemont unit being created to own the online business, the Swiss group said in a statement.

CNN posted an interesting video today about the growing number of mainland Chinese shoppers flocking to Hong Kong to buy luxury goods, much to the enjoyment of Hong Kong retailers and international luxury brands alike.

Spanish retailer Zara tops this week’s ranking of most popular Facebook fashion brands, followed by Swedish ‘arch rival,’ H&M.

Chanel is to begin selling products directly through its website later this year in a landmark decision likely to be followed by rival luxury brands.

Chanel will sell only its fragrances online but is looking to extend this to eyewear and accessories.

In the past, luxury fashion brands have shied away from selling goods via the web, but some industry figures believe 2010 could be a ‘watershed’.

A marketing company called Stylophane has developed a new index that ranks brands by Facebook followers, with its list highlighting the popularity of sportswear brands in comparison to luxe brands including Burberry and Gucci.

The top five of Stylophane’s Facebook Fashion Index are dominated by sportswear brands Adidas, Nike, Puma, and Lacoste (in descending order), with Swedish fast fashion retailer H&M — in third place — being the only exception.

It is not until spot six that high-fashion labels are mentioned, with social media forerunner Burberry leading the pack, followed by Chanel (8) and Gucci (9).

Wang Jing was all smiles as she strolled out of a Cartier boutique in Singapore after blowing close to 5,000 US dollars on a watch and a ring.

“It’s something I have always wanted, and besides, the economy isn’t looking too bad at the moment,” the Chinese tourist in her early 30s, in Singapore for a four-day spree, said.

“There’s no reason for me to hold back,” she said with a laugh that is music to the ears of the global luxury goods industry.

From diamonds to designer tea, high-end retailers battered by financial turmoil in the United States, Europe and Japan are now looking to China, India and other developing Asian nations for salvation.