Federico Marchetti, founder of Yoox (which later became Ynap), is ready to take a step back. He will leave his position as CEO, maintaining the presidency of the group. It was already foreseen by the agreements with the luxury giant Richemont which in 2018 acquired Ynap for 5.3 billion. Yesterday the official announcement: “We have started the very early stages of the succession plan for the next CEO of Ynap, which foresees that I remain with the role of president to ensure a smooth transition and create all the conditions for the success of the future CEO. »Wrote in a post on Instagram. There is no precise date yet, but the handover should take place by 2021.
“Before the new millennium, I had the intuition that fashion would move to the web. I followed my instincts and, against all odds, I opened the doors of my first site before Facebook, Instagram and the iPhone, “said Marchetti. “Today the smartphone represents more than 1 billion euros of our turnover and we have one billion visits a year on the group’s sites … It was an extraordinary journey that lasted twenty years, and it’s just the beginning! I love Yoox Net-A-Porter and I will always give the soul to guide our teams in this transition and ensure the success of our group. ”
“Everyone told me: no one will buy clothes online”
Starting from the province of Ravenna, Federico Marchetti combined his two great passions (internet and fashion) and created Yoox in 1999. «I had no money. I had nothing. And I had to overcome general skepticism. Everyone told me: it’s impossible, no one will buy clothes online, “he told us in an interview. Between difficulties and great successes, he made the startup become a giant of fashion e-commerce, the first Italian unicorn. It took it to the stock exchange, acquired its biggest competitor, and made an exit of 5.3 billion. Today the group has more than 4.2 million customers in 180 countries, over 5,000 employees and $ 2.5 billion in revenue (in 2017). «Making it is not a question of money. People are more important than capital, they are the ones who turn ideas into reality. Every morning when I wake up, I thank heaven for inventing Yoox. Because I go to work with a smile on my face ». Here is its beautiful story