We use first party and third-party Cookies to help us understand Website usage and to improve the content and offerings and to provide you advertising, analytics and other purposes related to your navigation habits. If you continue scrolling, we consider you accept the policy. You can read more about our cookie policy.


The global fashion business journal

Jan 25, 20208:43pm

Kering cuts ties with Yoox Net-a-Porter and retakes control of e-commerce

Until now, the London e-commerce group owned by Richemont has managed online sales platforms of brands such as Gucci, Saint Laurent or Bottega Veneta.

Nov 26, 2018 — 5:52pm
MDS
Related topics
Save

Kering cuts ties with Yoox Net-a-Porter and retakes control of e-commerce

 

 

Kering retakes the lead of e-commerce. The French luxury holding is finishing off the break-up of the joint venture it had with Yoox Net-a-Porter (YNAP). The company wants to recover the management of its brands’ online platforms so as to strengthen the omnichannel strategy.

 

This move is produced a year after Kering created the position of chief client and digital officer and appointed Grégory Boutté for it. The break-up with YNAP is produced five months after Richemont concluded its acquisition.

 

Kering will therefore control the online stores of all its different firms after 2020. Nowadays, the group’s online business represents about 6% of sales and, in the first quarter of 2018, it boosted them up an 80%, according to WWD.

 

Boutté claims that six years ago, when Kering launched the joint venture with Richemont, the degree of e-commerce’s maturity in the luxury industry was quite low. However, the executive thinks that nowadays, the level of recognition it implies is enough to determine that it is the right decision.

 

Kering ended the first nine months of the fiscal year (concluded on September 30th) with a rise of 27.1% of sales, reaching the figure of 9.83 billion euros. The company’s growth was led again by Gucci, which increased sales a 35.6% in the same period.

Advertising
Comment
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...