Yoox to launch data-driven private label
Yoox, the e-commerce platform dedicated to the sale of luxury and high-end fashion, is set to launch a private label in the next few days, according to an announcement made by Yoox Net-A-Porter (YNAP) CEO Federico Marchetti on 9th October during the Wired Smarter conference in London. Expanding its focus from its initial offering of luxury labels, particularly past collections, the Italian site is now making moves to become a brand creator in its own right.
Although the name of the upcoming label was not revealed by the company's founder and CEO, who has been leading the company's transition board since April, following the group's acquisition by Richemont, it was announced that the brand's collections will be partially conceived using data collected by YNAP over the years. According to Marchetti, designs will therefore be based on the tastes and expectations of Yoox customers, but will also receive input from the site's creative team. If the profile of the designers internally recruited for the studio is anything to go by, the imminent launch of the label could include both men's and women's fashion and accessories.
This isn't the first incursion the group has made into private labels, as Mr Porter, the menswear version of Net-A-Porter, which merged with Yoox in 2015, launched its own brand at the end of 2017.
The focus on big data is also nothing new for the company, which has long used its stats to tempt brands on board. Looking at the group's figures, it's worth pointing out that among the 9.5 million orders made on YNAP's various e-commerce platforms in 2017, the average purchase totalled 328 euros, while the sites collectively recorded 3.1 million active consumers, compared to 2.9 million in the previous year.
Currently owned by Richemont, Yoox Net-A-Porter saw a record year in 2017, with sales increasing 16.9% to total 2.1 billion euros, leading to Ebitda of 169.2 million euros, compared to 155.7 million in the prior year. The group predicts that it will invest between 170 and 180 million euros over the course of the current fiscal year.
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