Net-a-Porter Merging With Yoox. London-based Net-a-Porter to merge with Italian Yoox creating online high fashion giant that could change the online retail industry. Mobile shopping platforms continue to grow in influence, especially among the millennial generation, and in Asia. Shopping for fashion has changed so much that it’s no wonder there are movements afoot at some of the biggest companies in the game.
Among the most significant is the merger announced last week between Italian online fashion giant Yoox and famous e-tailer Net-a-Porter. Yoox has bought competitor Net-a-Porter outright from French luxury group Richemont, which only acquired the company in 2010. The result is a fashion behemoth focused on online retail and the lucrative luxury market.
The new Net-a-Porter/Yoox team surely have grand ambitions to be an all-seeing, all-reaching force in the online fashion world. Net-a-Porter founder Natalie Massenet told journalists as much at a press conference. For consumers and their competition alike, it will be interesting to see how this new partnership takes hold and what changes it will bring to the market. It could very well be a game changer.