You will no doubt have read yesterday the news that a merger has been announced between THE NET-A-PORTER GROUP and Yoox Group to create the leading online luxury fashion retailer worldwide: Yoox Net-A-Porter Group.
This is an incredibly exciting new chapter for all of us at THE NET-A-PORTER GROUP and we are thrilled about the opportunity this will create to take our partnership with you to the next level. When the merger completes in September we will become a leading global content and commerce platform for luxury fashion, one that keeps the customer and our amazing brands at the heart of everything we do.
Natalie Massenet will become Executive Chairman of the new Group, working closely with Federico Marchetti, Founder and CEO of the Yoox Group who will become CEO of the Yoox Net-A-Porter Group in September. The new combined business will have net revenues of over 1.3 billion Euros, more than two million active customers worldwide and a combined monthly audience of 24 million.
This merger of equals brings two complementary businesses together. Both NET-A-PORTER and Yoox started out in 2000 and have since grown to be leading players in the luxury e-commerce universe. We both share an entrepreneurial spirit and the goal of being the ultimate partner to the world’s best fashion brands – through our unrivalled positioning, unique editorial content, extraordinary edit of global fashion brands and products, and unrivalled customer service, and Yoox through their multi-brand global reach and their market leading mono-brand platform, operating online flagship stores for the world’s best fashion brands. Yoox is the perfect partner to THE NET-A-PORTER GROUP and together we have serious scale.
It’s a proud day for everyone and we are excited to continue our work together along with our new colleagues at Yoox as we make history. From such a position of strength, we will lead the market as one big group with teams based in 34 locations across Europe, the US and APAC. We’ll be even more multi-cultural, with the greatest range of languages, skills, contacts and knowledge in the world of luxury retail.
PORTER, The EDIT, The Journal and The MR PORTER Post will each continue as standalone brands together with NET-A-PORTER.COM, THE OUTNET.COM and MR PORTER.COM which will stand alongside the Yoox Group brands of Yoox, Shoescribe and The Corner. ALL of our brand and central services teams will keep on doing what they do best – giving our partners, brands and our customers the BEST possible experience.
As Natalie Massenet said in her announcement yesterday “Together, with our world-class teams in technology, logistics, content and commerce we are redefining the fashion media and retail landscape. The best way to predict the future of fashion is to create it.”
The merger is expected to close in September and we will naturally keep you fully updated on our progress as it happens. In the meantime, it’s very much business as usual at THE NET A PORTER GROUP and we look forward to partnering with you today, tomorrow and into our dynamic new future.