net-a-porter

Decoded Fashion - Weekly Stories - E-tail CEO Departures
Image source: The Times

Last week marked changes in the landscape of fashion e-commerce, following exits from the founders of two of e-tail’s biggest names, ASOS and Net-A-Porter.

Nick Robertson of ASOS stepped down from his role as CEO on Wednesday, having been at the helm of the company for 15 years, though he will remain on the board as a non-executive director. Robertson founded ASOS – originally known as As Seen On Screen due to its replication of celebrity-endorsed fashion – in 2000.

He will be replaced by ASOS’s chief operating officer Nick Beighton, who has been described as “such an able successor for the CEO role” by Brian McBride, the company’s chairman.

Natalie Massenet’s departure from luxury e-tailer Net-A-Porter was also announced on Wednesday. The news came ahead of Net-A-Porter’s pending merger with Italian retailer Yoox SpA. The all-shares merger, which will conceive the Yoox Net-A-Porter Group, is expected to close later in the month.

Massenet has left Net-A-Porter on a high, taking more than £100m ($153m) after selling shares in the company she founded in 2000.

Since the merger between the rival companies was announced in March, grievances had been aired regarding alleged personality clashes between Massenet – who is known for her positive, democratic approach to team leading – and Yoox’s founder Federico Marchetti, who has previously declared “there is no love” between him and his employees.

In an interview with the Financial Times in May, Marchetti said of his company’s merger with its British rival: “I don’t think any merger in history has been so perfect on paper,” before adding that there would only be one boss of the Yoox Net-A-Porter Group: himself.

While both parties have been tight-lipped regarding Massenet’s departure – and, indeed, where she plans to go next – the 50-year-old Net-A-Porter founder said in a statement: “The business I started in 2000 could not be in better shape today. Having joined forces with Yoox Group, the company will be bigger, stronger and superbly well positioned under Federico’s leadership to lead the industry and create the future of fashion.”

Reported by Grace Howard

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“So Natalie Massenet, founder of the online luxury retailer Net-a-Porter, is going offline. On Wednesday, in the wake of a merger with yoox.com, Ms. Massenet resigned as executive chairwoman of the Net-a-Porter Group (she was to be executive chairwoman of the combined group; the Yoox chief executive, Federico Marchetti, was to be group chief executive). Thursday morning, she issued an official statement.”

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Decoded Fashion - Fashion Tech Daily - Natalie Massanet x Net-A-Porter
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“The doors are finally open; from today anybody can join Net-A-Porter.com’s social shopping network, The Net Set. A word of warning though: as model and the app’s ambassador, Poppy Delevingne cautions, it could be really bad news for your credit card.”

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Decoded Fashion - Fashion Tech Daily -  Poppy Delevingne x The Net Set
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“When Aslaug Magnusdottir cofounded the luxury fashion e-retailer Moda Operandi in 2010, the timing was perfect. Even though Net a Porter—another full-price fashion e-retailer with a decade’s head start on Moda—was gaining traction, Magnusdottir says the luxury customer was still being underserved online.”

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Decoded Fashion - Fashion Tech Daily -  Moda Operandi

Decoded Fashion - Weekly Stories - Uber
Image source: Uber Rush

With a proposed $50bn valuation around the corner and rides in London alone growing at 5x to 6x per year, Uber’s position as the benchmark for creating real-life convenience from mobile technology has been firmly cemented. As the taxi service continues to expand at mind-boggling speed, other industries are looking for ways to Uber their own offerings. How can fashion retailers capitalise on the growing opportunities of the new convenience economy? This is one of the questions that panellists will work towards answering for audience members at our New York Summit this October.

Among those panellists will be Orkun Atik, the founder of a new start-up that promises to make personal shopping as smart as getting around the city. Currently in beta and invitation-only, Mona is an app that helps users find personalised real-time deals. A standout feature is ‘Mission’, which aims to emulate how individuals tend to shop in real life. Are you the kind of person who sets out onto the high street with a specific shopping goal? The app keeps you up to date on exactly what you’re looking for, so you can avoid rifling through the racks.

Mona is just one of a growing list of shopping apps that hope to meet consumers’ growing expectations for ultimate convenience through personalisation. Grabble emphasises the “hand-picked” nature of its shopping recommendations, as though you were shopping with a real stylist. Meanwhile, Net-A-Porter’s new social network The Net Set has a Shazam-like feature that recognises images – for instance, a photo of a dress you spotted someone wearing in a café and uploaded – and then matches the look to an item sold on its website. You can also upload your inspiration pictures – flowers, a beach scene – and the app will channel that into recommendations for clothes and accessories that fit the mood.

Let’s not forget Uber itself, which is making a play for the home delivery market with super-speedy service Uber Rush. Currently available in NYC, the service lets you request, track and confirm deliveries from A to B as easily as if you were requesting a car. While it’s not a direct target for the fashion retail market, it reflects the industry’s current battle for the quickest at-home delivery. Could next-day delivery soon be one-hour delivery? Matches and Net-A-Porter are currently leading the way, offering same-day delivery for their offerings. But with Amazon proposing its own slice of airspace for its high-speed aerial drone deliveries this week, the future of high-speed deliveries could play out in the skies rather than on the roads.

Registrations are now open for Decoded Fashion’s NYC Summit. Check out the full agenda here and reserve your place.

Reported by Claire Healy

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“Net-a-porter’s momentum with big brand luxury exclusives is in full swing. The e-commerce site is partnering with Tom Ford as the first online retailer of his men’s and women’s ready-to-wear collections.”

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Decoded Fashion - Fashion Tech Daily - Tom Ford x Net-A-Porter
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“Net-A-Porter [IRDX RNAP] today reported record results, with profits moving into the black at £11m after a year of digital innovation and as the upmarket fashion pureplay marked 15 years in business.”

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Decoded Fashion - Fashion Tech Daily -  Net-A-Porter
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“In late March, Chanel’s president of fashion, Bruno Pavolovsky, told WWD that the the luxury brand would finally be launching e-commerce, possibly before the end of 2016. As it turns out, the company is actually testing the e-commerce waters as soon as next week.”

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Decoded Fashion - Fashion Tech Daily - Chanel x Ecommerce
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“Two of the world’s best-known e-commerce sites for luxury clothing and accessories—London-based online fashion retailer Net-a-Porter and Italian e-commerce clothing company Yoox Group SpA—are merging to create a new monolithic e-retailer with an expected annual revenue of more than $1.4 billion.”

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Decoded Fashion - Fashion Tech Daily -  Net-A-Porter x Luxury Retail
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“On Monday, Yoox Group and Richemont both confirmed that they were in talks regarding a “potential business combination” of Yoox and Net-a-Porter. Just 24 hours later, that deal has been solidified: According to a statement from Richemont, it has signed an agreement to merge Net-a-Porter with Yoox into a new entity called the “Yoox Net-a-Porter Group.””

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Decoded Fashion - Fashion Tech Daily - Yoox x Net-A-Porter