yoox net a porter merger
[36] Yoox founder Federico Marchetti became the group's CEO and Net-a-Porter founder Natalie Massenet left the company after the merger was completed. However, in 2001, Roland Mouret was persuaded to sell his collection via the website. [21], In 2010, Massenet sold a majority stake in Net-a-Porter to Swiss luxury goods holding company Richemont for an estimated £50m. SLIDE 3 CREATING A LEADING ONLINE LUXURY FASHION RETAILER WORLDWIDE YOOX NET-A-PORTER … Yoox was originally founded by Federico Marchetti in Milan in 2000, and Net-a-Porter was founded by Natalie Massenet in London in 2000. [56], In spring 2009, Yoox Group announced its plans for an initial public offering at the end of 2009. Marchetti, who had worked for "Bain & Co. as a strategic consultant, Lehman Brothers as an expert in luxury goods and as a banker in mergers and acquisitions"[53] studied economics at Bocconi University in Milan[53] and holds an MBA from Columbia Business School. [21], In the early days, the operation was so low-key that the company's black delivery boxes were stacked up in the bathtub. Massenet recalled the credibility gap in a 2013 interview in The Observer: "They'd listen and they'd nod and then afterwards they'd say, 'Just tell me one more thing: where is your store?'" This decision was prompted by the merger between Yoox Group and the Net-A-Porter Group, the Group's high stock market capitalisation, as well as the inclusion of the stock in the FTSE MIB from 2013. [46][47] The company was delisted in 2018. [32] Playing off of its name, Net-a-Porter recently added a sportswear section to their website called Net-a-Sporter. [57][42][58] Presumably, the new merger should help Net-a-Porter’s prospects in China somewhat more than Yoox’s—but this doesn’t mean a smooth road ahead in the market. Following the effectiveness of the merger on 5 October 2016, the newly issued shares of Yoox Net-A-Porter Group – resulting from the transaction itself, as well as the ordinary shares already outstanding at that date, were admitted to listing on the MTA with the new ticker “YNAP” and were included in the FTSE MIB index. "[35], The combined revenues of the two companies prior to the merger was about $1.4 billion and their websites received a combined 24 million unique visitors annually. In 2015, Yoox purchased NAP shares from Richemont and established the Yoox-Net-a-Porter Group. [43], The stock subsequently also joined the FTSE London/ Italia Mid Cap index27 and, since 23 December 2013, it has been included in the FTSE MIB - the main index of Borsa Italiana comprising the top 40 London & Italian companies by market capitalisation and liquidity. [21] Brands it retails include Stella McCartney, Yves Saint Laurent and Diane von Furstenberg. "The completion of Net-a-Porter Group's merger with Yoox Group is the right time for me to move on to explore new ideas and opportunities," said Massenet of her decision last month. Presumably, the new merger should help Net-a-Porter’s prospects in China somewhat more than Yoox’s—but this doesn’t mean a smooth road ahead in the market. [31] Some 400,000 copies will be distributed six times a year in 60 countries. "The business I started in 2000 could not be in better shape today. [37], There are 7 "logistic centres" in Italy, UK, USA, China, Hong Kong, Japan. [17][18][19] September 2009 saw the launch of womenswear at The Corner. Since then, the company has worked with individuals in the fashion and luxury industry in the development of their e-tail strategies, launching websites for brands such as Armani and Marni. "I am thrilled to see the passion with which our two teams have already come together - this energy is at the heart of building Yoox Net-A-Porter Group. [21] She remains an investor and executive chairwoman. "The completion of Net-a-Porter Group's merger with Yoox Group is the right time for me to move on to explore new ideas and opportunities," said Massenet of her decision last month. [50] In 2013, over 1.7 million products were shipped to 53 countries by the group. Prior to the extraordinary general meeting of YOOX S.p.A. to resolve upon the merger, YOOX S.p.A. will voluntarily make available an information document pursuant to Article 70, paragraph 6, of the Consob Regulation No. [39] Yoox maintains "20 studios to make pictures [of the merchandise] with 50 photographers" in the UK and the US, Backed by venture capital firm Balderton Capital,[40] Yoox was founded as a privately held company[41] and achieved total revenues of £18m by 2009. The Combined Group’s increased scale is expected to deliver operating leverage and efficiencies and will capitalise on an existing customer base of more than two million highspenders globally. "The completion of Net-a-Porter Group's merger with Yoox Group is the right time for me to move on to explore new ideas and opportunities," said Massenet of her decision last month. [33] When speaking of the addition of Net-a-Sporter to the e-tailer's online roster, the company's President Alison Loehnis said "We spotted a gap in the market for being a one-stop shop for workout wear where fashion meets function and where performance and style are equally valued. [51] Yoox's CEO and founder is Federico Marchetti,[52] the head of marketing and sales is Massimiliano Benedetti. The ballyhooed Yoox and Net-a-Porter merger is one such case. [6] YOOX's concept is to buy up overstocked or unsold items from previous seasons in "a direct relationship"[7] from renowned fashion houses "including Dolce & Gabbana, Diesel, Gucci, Armani and Cavalli"[8] as well as "manufacturers and authorized dealers"[7] and sell them online at discounted outlet prices. [9] Vintage designer clothing (Chanel, Dior, Gucci etc. [21] Initially, designers and investors were reluctant to support Net-a-Porter because it lacked a physical retail outlet. [29], The business continues to grow and in 2013 it retailed products from more than 350 designers, attracted more than two million monthly visitors to the site and an average spend of £500 (around $850). Yoox went public at the Milan Stock Exchange on December 2009. ", Read more: Natalie Massenet On Her Shock Departure, Read more: Yoox And Net-A-Porter Shareholders' Verdict, Net-A-Porter founder Natalie Massenet resigned, Yoox And Net-A-Porter Shareholders' Verdict, HRH The Prince Of Wales Speaks To Edward Enninful About His Lifelong Commitment To Sustainable Fashion, The Duchess Of Cambridge Shares Details Of Her Lockdown Passion Project.

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