Yoox & Net-a-Porter Merge to Create the Mother of All Online Shopping Sites
Impulsive online shoppers rejoice! Soon it will be easier than ever to get your fashion fix. Today it was announced that the online retail giant Yoox SpA is planning to buy Net-a-Porter’s business from luxury goods holding company Richemont to the tune of $775 million. This merger means that the newly minted Yoox Net-a-Porter Group will become the largest e-commerce retailer on the planet.
“Today, we open the doors to the world’s biggest luxury fashion store,” said NAP founder and current CEO Natalie Massenet in a statement to WWD. “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.”
And create it they will. Between the two conglomerates there are multiple sites under their umbrella organizations including shoescribe.com, theoutnet.com, mrporter.com, and thecorner.com. Yoox is also responsible for building the websites for multiple fashion houses including Armani, Alexander Wang, Dolce & Gabbana, Missoni, and more.
“This is a game-changing merger between two pioneering companies that have already radically transformed the marketplace since 2000, and will now shift the industry paradigm once again,” said Yoox founder (and soon to be CEO of the new business) Federico Marchetti to WWD.
Get your plastic ready, ladies. The future of shopping is here.
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