Yoox Net-a-Porter Group has reorganised its structure into three divisions and promoted Alison Loehnis to president of in-season, responsible for 53.7% of the overall business.
Net-a-Porter spring 16
Under the new structure, which came into effect on February 1, Loehnis is responsible for luxury womenswear etailer Net-a-Porter, its menswear counterpart Mr Porter and Porter magazine. She is no longer responsible for luxury off-season etailer The Outnet.
Yoox’s multibrand in-season sites TheCorner and Shoescribe are set to close at the end of the spring 16 season, after YNAP Group identified a “meaningful overlap” between them, Net-a-Porter and Mr Porter.
The two sites accounted for 2.4% of combined net revenues in the first nine months of 2015. YNAP Group said it hopes to retain “a significant share” of their current customers to limit the loss of revenues. It also plans to further develop Net-a-Porter’s shoe business by building on the experience of Shoescribe.
“The Yoox Net-a-Porter group has decided to migrate TheCorner and Shoescribe’s customer bases to the group’s other multibrand online stores by the end of the 2016 spring/summer season, through tailored migration strategies that will be developed on the basis of customer demographics, spending patterns and geography,” it said in November. “All dedicated teams will be fully reallocated within the group.”
Luca Martines, who has been president of Yoox.com since 2005, is now president of the group’s off-season business, assuming responsibility for The Outnet from Loehnis, in addition to Yoox.com. The two sites accounted for 35.8% of the group’s net revenues for the year ended December 31.
Paolo Mascio, who has been responsible for Yoox’s monobrand division since 2009, is now president of the group’s 40 online flagship stores, which made up 10.5% of the group’s net sales by the year end.
All three presidents will report to chief executive Federico Marchetti.
The group has formed a new shared services unit for its technology, operations, own label sourcing and market development, including China and Japan. The unit is headed up by Alberto Grignolo, who was formerly Yoox Group’s chief operating officer.
Alex Alexander, who joined as Yoox Group’s chief information officer from Walmart in June last year, has taken on the same role at group level.
William Duffy, who was Net-a-Porter Group’s global operations director, has become senior director of global operations for the group.
Enrico Cavatorta, chief financial and corporate officer, will remain in charge of the group’s corporate functions.
Yoox Net-a-Porter Group also revealed that its sales grew 31% to €1.7bn (£1.3bn) for the year ended December 31.
During the period, it said average monthly unique visitors grew by 14.7% to 27.1 million visits, while orders were up 21.9% to 7.1m.
The average order value increased to €352 (£272), up 10.9% on 2014.
The deal to merge Net-a-Porter Group with its Italian rival Yoox Group was first announced in March 2015 and completed the following October, creating an online luxury fashion giant with combined revenues of €1.3bn (£940m).
Net-a-Porter Group founder Natalie Massenet resigned as executive chairman in September 2015. Loehnis was promoted from president of Net-a-Porter to president of the Net-a-Porter Group a month later.