20 FRIENDS: Yoox and Net-a-porter mark their 20th anniversary this year, and although the coronavirus pandemic has upended the planned celebrations, Federico Marchetti was not deterred from tagging the milestone.
On Friday, Marchetti, founder of Yoox and chairman and chief executive officer of the Yoox Net-a-porter Group, teased a new communication project to be launched the following day, June 20, on his Instagram account.
Called “20 Years, 20 Friends,” it comprises anecdotes and memories shared by 20 of the entrepreneur’s friends who have been part of the e-tailer’s history.
They range from the venture capitalist and first investor in Yoox Elserino Piol, Academy Award winner director Luca Guadagnino, OTB founder Renzo Rosso, Laudomia Pucci, Waris Ahluwalia, costume designer Arianne Phillips, to Amber Valletta, Francesco Vezzoli, designer Stella Jean and Colette founder Sarah Andelman.
As reported in April, the COVID-19 outbreak put the Yoox Net-a-porter Group’s search for a new ceo on pause.
In an internal letter sent to employees and obtained by WWD, Marchetti said he had put the search “on a back burner,” as he intends to helm the company “until we return to calm waters.” A month earlier, Marchetti had decided to stay on as chairman but to hand over the ceo role when a successor was found.
Marchetti broke ground in Italy by founding Yoox in 2000 and publicly listing it in 2009, then the first initial public offering in Italy in 18 months.
Then, in a first in the luxury online arena, Marchetti spearheaded the merger of Yoox and Net- a-porter in 2015.
The group comprises the multibrand in-season online stores Net-a-porter and Mr Porter; the multibrand off-season Yoox and The Outnet, as well as the online flagships for designer brands ranging from Giorgio Armani to Valentino — a business model he pioneered in 2006, when designers were still skeptical of the Internet. Marchetti was also among the first to believe in the potential of selling high jewelry and luxury watches online, starting in 2016 and now stocking brands such as Piaget, Cartier, Audemars Piguet, Pomellato, IWC and Buccellati.
Compagnie Financière Richemont took control of YNAP in 2018, delisting it from the Milan Stock Exchange and valuing the company at about 6 billion euros.