Natalie Massenet, founder of Net-a-Porter and co-founder of venture capital firm Imaginary Ventures, is suing her ex-partner Erik Torstensson for emotional distress, breach of contract, fraud and intentional deceit.
In a lawsuit filed to the Los Angeles County Superior Court on Wednesday, Massenet alleges that her uncovering of Torstensson’s drug addiction and infidelity led to the couple’s split in May.
In the filing, Massenet also accuses Torstensson of using their relationship to gain access to her extensive fashion network, including Anna Wintour and Victoria and David Beckham, along with equities and investments worth more than $100 million. According to the lawsuit, Massanet claims she spent $95 million on the couple’s lifestyle with the promise that he would repay her. But Torstensson has “cut her out of any earnings” of his various investments since their relationship ended, the file claims. Torstensson, for example, has an estimated stake in the intimates brand Skims worth more than $300 million, the lawsuit alleges.
“Erik Torstensson has decided to step away from the company to attend to personal matters, effective immediately,” according to a statement from Frame. “This is a personal family matter and unrelated to our business activities.”
Massenet and Torstensson — who co-founded the denim brand Frame in 2012 with Skims’ chief executive, Jens Grede — met in 2009 when he pitched her on a menswear division of Net-a-Porter, which would eventually become Mr Porter and launch the following year, according to the filing. The couple had a son in 2017. The lawsuit claims that Massenet is now “cash-strapped” with their child and facing a potential custody battle.
“While Massenet is emotionally devastated and in shock caused by Torstensson’s outrageous behavior, this is a case of a return on investment in a man who leveraged Massenet’s capital and brand to build wealth, while she bore the majority of the costs,” the lawsuit states. “Massenet is demanding now what any investor would – a fair, equitable return on the investments she made, value she created, and costs she carried.”
Massenet did not respond to a request for comment.
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