It wasn't the starting point. I've always thought that we are 50% technology and 50% luxury." Federico Marchetti is the founder of the internet retailer and e-commerce services company Yoox and the chief executive of the Yoox Net-a-Porter Group. All Rights Reserved. Lefebvre will also replace incumbent chief executive and chairman Federico Marchetti, who will stay on with YNAP as chairman. The two had met when the prince and his wife Camilla, Duchess of Cornwall, visited the company's London office in 2018, and mooted a collaboration. Federico Marchetti is the chairman and CEO of Yoox Net-a-Porter Group, which celebrates its 20th anniversary this year. Marchetti will remain chairman of the company, which he has led first as off-season fashion retailer Yoox since it launched in 2000, and then … YOOX was listed … July 4, 2020 Yoox Net-a-Porter CEO Federico Marchetti, E-Commerce Pioneer, on the State of Shopping Marchetti tells us how AI is enhancing luxury … "The quality, the longevity of the product, but also sustainability has been a big trend before Covid in the fashion industry … After Covid, there's been an acceleration in terms of sustainability," Marchetti said via phone. Yoox Net-a-Porter Group has announced the appointment of Geoffroy Lefebvre as its new chief executive. Yoox Net-a-Porter chairman and CEO Federico Marchetti said concerns around sustainability had been accelerated due to the coronavirus. YOOX NET-A-PORTER Group has named its new CEO. Federico Marchetti remains Chairman. Got a confidential news tip? Mike Wilkinson . November 30, 2020 Today the Company announces the appointment of Geoffroy Lefebvre, currently Group Digital Distribution Director at Richemont, who will become the CEO of YOOX NET-A-PORTER GROUP from 4th January 2021. In 2018, it became part of luxury conglomerate Richemont, in a deal valuing Yoox Net-a-Porter at 5.3 billion euros. 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Federico Marchetti, YOOX Net-a-Porter's chairman and CEO, is also joining Giorgio Armani's Board of Directors as an independent non-executive director. Federico Marchetti is an entrepreneur at the intersection of luxury and technology. The executive informed employees on Wednesday afternoon that he will step down from his role as CEO. Federico Marchetti, chairman and chief executive officer of the Yoox Net-a-porter Group has no doubts, detailing the online retailer’s three-year strategic plan to WWD. The update comes after it emerged in March that boss Federico Marchetti would be stepping down from the role next year. When Prince Charles became unwell with the coronavirus in March, Federico Marchetti, chairman and CEO of luxury fashion group Yoox Net-a-Porter, put pen to paper from his home in northern Italy. Federico Marchetti. Federico joined Male Champions of Change Global Tech Group in 2019. Foto via W Magazine. Speaking to … Federico Marchetti was born in 1969 and raised in Ravenna, Italy. . "The first time I met him, he was showing me the shoes that he's wearing (for) such a long time.". Federico Marchetti, Chairman and CEO, Yoox Net-A-Porter Group, in conversation with Shereen Bhan, Managing Editor, CNBC TV-18, during the 18th edition of … Federico Marchetti commented: “As part of the succession plan communicated at the beginning of 2020, I am delighted to be handing the baton to Geoffroy Lefebvre as the CEO of YOOX NET-A-PORTER GROUP. July 4, 2020 Yoox Net-a-Porter CEO Federico Marchetti, E-Commerce Pioneer, on the State of Shopping Marchetti tells us how AI is enhancing luxury … Federico Marchetti Alex Majoli MILAN — As per the succession plan set in motion earlier this year, the Yoox Net-a-porter Group will see the arrival of a new chief executive officer in 2021. Marchetti shared the message, which was seen by Vogue Business, with employees on Wednesday afternoon. … These two engines of this aeroplane, when one is slowing down a little bit, the other one is accelerating, and vice versa.". It's an initiative that first started in 2017 in a deal with Valentino. It is mandatory to procure user consent prior to running these cookies on your website. The closure of physical stores is being seen as the new normal in the post-pandemic world. Clarification: Federico Marchetti is CEO and chairman of Yoox Net-a-Porter Group. Federico Marchetti is the chairman and CEO of Yoox Net-a-Porter Group, which celebrates its 20th anniversary this year. It allows shoppers to see stock availability in stores worldwide. In one of the biggest fashion e-commerce deals of 2015, Marchetti and Johan Rupert, chairman of Richemont, announced a merger between Yoox and Net-a-Porter at the end of March 2015. Yoox Net-A-Porter has appointed Geoffroy Lefebvre as its new chief executive as part of a succession plan that will see current chief executive and founder Federico Marchetti (pictured) become chairman. "From Lake Como, I wrote a letter to him to ask how he was," he told CNBC. Yoox Net-a-Porter chairman and CEO Federico Marchetti said concerns around sustainability had been accelerated due to the coronavirus. Click here to sign up to Retail Gazette‘s free daily email newsletter. “Over the last two decades the group has grown exponentially, from a fledgling start-up to the biggest player in luxury ecommerce. Marchetti, who did a stint as a merchant banker at Lehman Brothers early in his career, said he has always focused on the long game. This field is for validation purposes and should be left unchanged. Like other luxury groups, Richemont was hit hard by the pandemic, reporting a 47% fall in revenue for the quarter to the end of June, and while it does not break out figures for Yoox Net-a-Porter, online sales for Richemont as a whole were down 22%. Marchetti will remain chairman of the company, which he has led first as off-season fashion retailer Yoox since it launched in 2000, and then … The deal valued the combined group at 3 billion euros ($3.55 billion). ", Now, China is a particular focus — in 2018, Net-a-Porter launched on Tmall, Alibaba's luxury platform. His father worked in an automobile factory and his mother was a telephone operator. "(It is) revolutionary because everybody's talking about 'omnichannel' but very few in luxury do it.". The Prince’s Foundation’s emphasis on sustainability and its commitment to training the next generation of skilled practitioners for the fashion and textiles industry have been crystalised through the launch of a sustainable and ready-to-wear luxury capsule collection designed by students in Italy and manufactured by trainee artisans at Dumfries House. A few years ago, Prince Charles met Yoox Net-a-Porter’s CEO Federico Marchetti, who calls the prince an “inspiration” throughout his own sustainability journey. By Kati Chitrakorn 4 March 2020. The business has added Armani to its "next era" model that lets consumers see stock availability in-store as well as online. Lefebvre will step into the role on January 4 from YNAP Group’s parent company Richemont, where is he currently group digital distribution director. Known as the Ordine al Merito del Lavoro (Order of "Merit for Labour") the decoration was first introduced by King Vittorio Emanuele III of Italy in 1901. In one of the biggest fashion e-commerce deals of 2015, Marchetti and Johan Rupert, chairman of Richemont, announced a merger between Yoox and Net-a-Porter at the end of March 2015. Currently group digital distribution director at Yoox Net-A-Porter’s parent company Richemont, Lefebvre will take up his new role on 4 January. ", Sluggish sales for luxury designers means an excess of stock, so they are more willing to sell inventory via sites like Yoox and the Outnet, Net-a-Porter's designer discount sister site. Now he is the Chairman and CEO of the combined Yoox Net-a-Porter Group , following the merger with online design fashion retailer Net-a-Porter in 2015. Photo: Handout The latest instalment in … Throughout the project, the two groups of trainee artisans will meet in both in Milan and in Scotland, to share ideas on product development to progress their collections from design stage through to final samples. Chairman and CEO of YOOX NET-A-PORTER GROUP Entrepreneur and Innovator. The collection, named The Modern Artisan, is now slated for a November launch, delayed a few months due to the coronavirus outbreak. This is where the two sides of the business complement each other, Marchetti said. We want to hear from you. Federico Marchetti, classe 1969, residente a Lenno di Tremezzina è uno degli imprenditori più innovativi al mondo. One of the biggest casualties of the Covid-19 pandemic and the consequent lockdown has been the fashion industry. to grow our food, valuing Yoox Net-a-Porter at 5.3 billion euros. Lefebvre joins from parent company Richemont where he has worked as digital distribution director. Federico Marchetti (born 1969) is the founder of YOOX and Chairman and CEO of YOOX NET-A-PORTER Group. Twenty years after founding Yoox as an off-price e-tailer, and five years after a merger with Net-a-Porter, Federico Marchetti is stepping down as Yoox Net-a-Porter’s CEO. “For two decades, delivering exceptional customer service has been at the heart of the Yoox Net-a-porter approach,” said Federico Marchetti, chairman and chief executive officer of YNAP. It remains as important as ever today to our Group and a major differentiator in the luxury fashion sector - for both clients and brands. "We have an in-season business (Net-a-Porter), that is doing extremely well during, let's say, good times. Federico Marchetti was born in 1969 and raised in Ravenna, Italy. A photo posted by YOOX.COM (@yoox) on Dec 19, 2016 at 5:32am PST H owever, it is highly unlikely that Marchetti would be caught wearing anything resembling a Mickey Mouse outfit. Marchetti graduated from Bocconi University in 1993 with a degree in Economics. And so basically what I did over the 20 years was building brick after brick with a long-term perspective. In 2017 YOOX NET-A-PORTER GROUP adopted the Fur Free policy excluding all items and accessories made from animal fur. "We are obviously like a tech company, digital company. He will take up the role on 4 January as per the succession plan announced by the global online luxury group earlier this year. Save my name, email, and website in this browser for the next time I comment. This category only includes cookies that ensures basic functionalities and security features of the website. Managers that use A.I. In 2000, Marchetti founded YOOX, the world’s first lifestyle e-commerce destination, long before the launch of Facebook, Instagram and the iPhone. MILAN, Italy — Yoox Net-a-Porter Chief Executive Officer Federico Marchetti is stepping down from his position at the Richemont-owned luxury e-commerce retailer, according to an internal document viewed by BoF.A successor has not been announced. As an entrepreneur I am proud to have created a tech unicorn and built a digital powerhouse.”. Il fortunato è Federico Marchetti, classe 1969, colui che nel 2000 fondò la società di ecommerce di marchi di moda a prezzi scontati, Yoox, per poi portarla a Piazza Affari nel 2009, quando fatturava intorno ai 150 milioni l’anno. This article has been updated to include new information from Yoox Net-a-Porter about the automated warehouse. Federico Marchetti, Chairman and CEO, Yoox Net-A-Porter Group, in conversation with Shereen Bhan, Managing Editor, CNBC TV-18, during the 18th edition of … In 2000, Marchetti founded YOOX, the world’s first lifestyle e-commerce destination, long before the launch of Facebook, Instagram and the iPhone. Federico Marchetti is the Founder of YOOX and YNAP, Chairman and CEO of YOOX NET-A-PORTER GROUP, the world's leading online luxury retailer, and Independent Non … At the same time we also have an off-season business, which is Yoox, that is doing extremely well during like, shocks. The Modern Artisan students, HRH The Prince of Wales, Federico Marchetti “The Modern Artisan project is a unique collaboration that champions sustainability and prepares trainees with the skills and confidence needed to gain employment in the fashion and textile industry, or start their own business. Lefebvre joins from parent company Richemont where he has worked as digital distribution director. But opting out of some of these cookies may affect your browsing experience. Last month, Yoox Net-a-Porter signed a deal with Armani to enable customers to more easily buy from brick-and-mortar outlets as well as online, using Yoox Net-a-Porter's "next era" model. Federico Marchetti . “Technology can help the planet,” said Federico Marchetti in a wide-ranging Q&A discussion that shined a light on just how much data Yoox Net-a-porter Group has stored in its digital coffers, how it plies that data into pricing, fashion forecasting, and app-making — and how it tries to use it as a force for good.Marchetti Entrepreneur Marchetti founded Italy’s Yoox in 2000 and it … Established in 2000 by entrepreneur Federico Marchetti, YOOX is the off-price arm of the now Yoox Net-A-Porter group. HRH The Prince of Wales with YOOX Net-a-Porter CEO Federico Marchetti at Dumfries House in Scotland. Geoffroy Lefebvre, currently Group digital distribution director at parent group Richemont, will take over the role with incumbent Federico Marchetti remaining as chairman. “Technology can help the planet,” said Federico Marchetti in a wide-ranging Q&A discussion that shined a light on just how much data Yoox Net-a-porter Group has stored in its digital coffers, how it plies that data into pricing, fashion forecasting, and app-making — and how it tries to use it as a force for good.Marchetti YOOX was listed on the Milan Stock Exchange in 2009, the first IPO in Italy for 18 months; today, it remains Italy’s sole “unicorn”. CEO of Yoox Net-a-Porter Group, Federico Marchetti, has been award knighthood in Italy. His first job was at the Lehman Brothers branch officer in Milan, where he worked in investment banking for three years. Prince Charles and Yoox Net-a-Porter CEO Federico Marchetti worked with artisans in Italy and Scotland to create a traceable, sustainable collection, available online now. Federico Marchetti. These cookies will be stored in your browser only with your consent. These cookies do not store any personal information. The news comes less than a week after Retail Gazette revealed that Net-A-Porter managing director Nicola Brandolese had reportedly stepped down after serving just over a year in his role. "We have seen it also in the past in 2008 with Lehman … And it doesn't matter how deep is the shock, because like after a couple of weeks, people wanted to shop." Federico Marchetti, patron di Yoox Net-a-Porter, vive a Como con la moglie Kerry Olsen da 5 anni e negli ultimi quattro hanno seguito i lavori di ristrutturazione per il loro rifugio sul lago. YNAP Group owns online fashion retailers Net-A-Porter, Mr Porter and Yoox. MILAN, Italy — Yoox Net-a-Porter Chief Executive Officer Federico Marchetti is stepping down from his position at the Richemont-owned luxury e-commerce retailer, according to an internal document viewed by BoF.A successor has not been announced. In 1999, when he spent evenings in his Milan apartment working on the business plan for Yoox, his vision was clear. So it’s no surprise that there was a general freakout this weekend when T Magazine published Guadagnino’s inaugural experiment in interior design — a 9,600 square-foot, two-story ochre mansion on the shores of Lake Como, owned by Yoox founder Federico Marchetti and his partner, Kerry Olsen. This (new model) is the end of it," Marchetti explained. However, Federico Marchetti, chairman and CEO of the YOOX Net-a-Porter Group, believes that the … Federico Marchetti, YNAP chairman and CEO, said in a statement: “For two decades, delivering exceptional customer service has been at the heart of the YNAP approach. Marchetti forecast a U-shaped recovery from the pandemic for Yoox Net-A-Porter. Early on during lockdowns, people shopped for beauty and homeware. Marylebone, London, W1G 0PG. Federico Marchetti, CEO and chairman of Yoox Net-a-Porter, and fashion designer Giorgio Armani. His father worked in an automobile factory and his mother was a telephone operator. It is 100 per cent operational; a previous version of this article said otherwise. Necessary cookies are absolutely essential for the website to function properly. The partnership between … This website uses cookies to improve your experience while you navigate through the website. “Technology can help the planet,” said Federico Marchetti in a wide-ranging Q&A discussion that shined a light on just how much data Yoox Net-a-porter Group has stored in its digital coffers, how it plies that data into pricing, fashion forecasting, and app-making — and how it tries to use it as a force for good. Get this delivered to your inbox, and more info about our products and services. Federico Marchetti will be speaking about technology, heritage and the new consumer in conversation with FT editor Lionel Barber at the FT Business of Luxury Summit in Monte Carlo, June 7-9 Today, nearly half of all ecommerce sales are made on mobile devices and global ecommerce sales are set to pass $4.2 trillion by the... © Copyright Retail Gazette. Sign up for free newsletters and get more CNBC delivered to your inbox. Twenty years after founding Yoox as an off-price e-tailer, and five years after a merger with Net-a-Porter, Federico Marchetti is stepping down as Yoox Net-a-Porter’s CEO. Yoox Net-a-Porter had to close some of its warehouses during the outbreak, and Marchetti said the recovery was likely to be U-shaped. We also use third-party cookies that help us analyze and understand how you use this website. Federico Marchetti, YOOX NET-A-PORTER GROUP Chairman and Chief Executive Officer. Covid impact on fashion industry: YOOX's Federico Marchetti decodes #HTLS2020. HRH The Prince of Wales & Yoox Net-a-Porter Group Chairman and CEO Federico Marchetti with six of the Modern Artisans at the final collection review at Dumfries House. "I would call it the summary of what I've been trying to do in 20 years, and what I believe in, in terms of the 'DNA' (of the group)," Marchetti stated. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Yoox Net-A-Porter (YNAP) Group has named Geoffroy Lefebvre as new CEO, replacing current CEO and founder of Yoox, Federico Marchetti, effective 4 January. "He's the one telling me: 'Buy less, but buy better,'" Marchetti recalled, referring to the prince's efforts around sustainability. Yoox Net-A-Porter (YNAP) Group has named Geoffroy Lefebvre as new CEO, replacing current CEO and founder of Yoox, Federico Marchetti, effective 4 January. Photo: Courtesy of Yoox … It's an effort to help teach skills to future generations and represents a switch — Italy (as well as China) is often where luxury goods are produced, while Britain has become known for creative design from the likes of JW Anderson. It said: Yoox is the global leader in fashion e-commerce. Green issues have long been a concern for the prince (now recovered) and the coronavirus pandemic has focused both consumers' and designers' attention on the topic. Twenty years ago (in 2000), long before the launch of Facebook, Instagram and the iPhone, Federico Marchetti founded YOOX, the world’s first lifestyle e-commerce destination. All rights reserved. Entrepreneur and Innovator. Commercial: 07401 241 979, UK: Four Cavendish Square, Federico Marchetti is the founder of the internet retailer and e-commerce services company Yoox and the chief executive of the Yoox Net-a-Porter Group. He will be replacing Marchetti… "It didn't say: Yoox is a website that is selling off-season (fashion). Chairman and CEO of YOOX NET-A-PORTER GROUP Entrepreneur and Innovator. Federico Marchetti is an entrepreneur at the intersection of luxury and technology. You also have the option to opt-out of these cookies. You have entered an incorrect email address! As well as selling fashion via its own e-commerce stores, it provides the tech platforms behind several fashion brands' websites, such as Valentino and Saint Laurent. “As part of the succession plan communicated at the beginning of 2020, I am delighted to be handing the baton to Geoffroy Lefebvre as the CEO of Yoox Net-a-Porter Group,” Marchetti said. In 2019, NET-A-PORTER launched NET SUSTAIN, a platform to promote and celebrate the brands sold on site that meet the business’ criteria for sustainability in procurement and production. Data is a real-time snapshot *Data is delayed at least 15 minutes. Marchetti was part of the School of 2000 e-commerce entrepreneurs who revolutionised the market, along with Natalie Massenet of Net-A-Porter and Nick Robertson of ASOS who founded their businesses in the same year. Yoox Net-a-Porter CEO Federico Marchetti to step down after 20 years YNAP had started its search for a new chief executive in February after Marchetti announced he … Federico Marchetti is Chairman and Chief Executive Officer of YOOX NET-A-PORTER GROUP, and divides his time between Milan and London. Now, as the company turns 20, it has looked to Prince Charles' non-profit The Prince's Foundation to help it create a sustainable fashion collection that will see Italian students' designs created by British graduates. A previous version of this article left out his chairman title. Federico Marchetti, YOOX Net-a-Porter's chairman and CEO, is also joining Giorgio Armani's Board of Directors as an independent non-executive director. “We’re quite used to being the first to do things,” Federico Marchetti, the chief executive of Yoox Net-a-Porter Group, says with a laugh. A Division of NBCUniversal. He will be replacing Marchetti, who founded his label Yoox in 2000 in the early days of online fashion, before quickly building the … Education and early career. YNAP had started its search for a new chief executive in February after Marchetti announced he would be stepping down from the role when his contract expires. 35.5k Followers, 992 Following, 1,003 Posts - See Instagram photos and videos from Federico Marchetti (@federicomarchetti) We'll assume you're ok with this, but you can opt-out if you wish. Marchetti launched Yoox from Milan in 2000 as an online retailer selling out-of-season high-end fashion, and in 2015 it completed a merger with Net-a-Porter, the British-born luxury e-commerce site founded by Natalie Massenet, focusing on in-season stock. Federico Marchetti is a visionary who started the e-commerce fashion company Yoox very early in the emergence of the web. In our 20th anniversary year, it is a fitting moment to kick-start the handover and I look forward to working with him as chairman during the transition period. Chairman and CEO of YOOX NET -A-PORTER GROUP. "And then we see, topware (sales), probably because of all the Zoom calls … people want to look good on Zoom," he stated. This website uses cookies to improve your experience. The collection's creators can tap into data gleaned from the buying habits of Yoox Net-a-Porter's 4 million customers, and it is partly this information on shoppers' behavior that has made the group a success, Marchetti said. 'will replace those that do not,' IBM executive says, Travel needs to return from April or some airlines might disappear, CEO says, Chinese e-commerce platform Pinduoduo wants A.I. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Everybody's talking about 'omnichannel' but very few in luxury do it. © 2020 CNBC LLC. Chi è Kerry Olsen, la giornalista e moglie di Federico Marchetti, CEO di Yoox e Net a Porter Group. In 1999, he invented YOOX, seizing the opportunity long before industry insiders understood what the Internet could offer the world of fashion. In 2000, Marchetti founded YOOX, the world’s first lifestyle e-commerce destination, long before the launch of Facebook, Instagram and the iPhone. |. We have worked together over recent times and he fully masters our business model. “We have worked together over recent times and he fully masters our business model. "We share the same vision with (Richemont chairman) Johann Rupert, of being focused on the long-term growth. Editorial: 0208 222 0503 The decoration is currently bestowed by the President of the Italian Republic, who appoints 25 new Cavalieri del Lavoro on Republic Day, June 2, each year. Federico Marchetti, the CEO and chairman of Yoox Net-a-Porter Group. Federico Marchetti, CEO and chairman of Yoox Net-a-Porter, and fashion designer Giorgio Armani. … "One of the most disappointing experiences for the customer (is) when you enter into a shop because you wanted that bag … and then the sales assistant tells you: 'I'm sorry, but it's sold out and let me call the shop in Shanghai to see if they have it.' Federico Marchetti sul Lago di Como. Cartier owner Richemont has promoted Geoffroy Lefebvre to the role of chief executive of the Yoox Net-a-Porter Group, replacing Federico Marchetti after a nine-month search. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. We think that online luxury will be a marathon … what we're doing is laying the foundations in China (and) protecting our people during the pandemic, establishing good values around this company. Since then, Federico has continued to anticipate the market and customer trends.