Chairman and CEO of YOOX NET-A-PORTER GROUP
Entrepreneur and Innovator
In 2000, Marchetti founded YOOX, the world’s first lifestyle e-commerce destination, long before the launch of Facebook, Instagram and the iPhone. YOOX was listed on the Milan Stock Exchange in 2009, the first IPO in Italy for 18 months; today, it remains Italy’s sole “unicorn”. In 2015, Marchetti drove the game-changing merger of YOOX and NET-A-PORTER to create YOOX NET-A-PORTER GROUP, the world leader in online luxury fashion.
YOOX NET-A-PORTER GROUP is a unique eco-system with an unrivalled offering including multi-brand online luxury stores NET-A-PORTER, MR PORTER, YOOX and THE OUTNET, as well as several ONLINE FLAGSHIP STORES, the business model that Marchetti pioneered in 2006 by creating and hosting mono-brand online shops on behalf of the world’s leading fashion brands.
The Group was acquired in 2018 by Richemont, one of the world’s leading luxury groups.
Under his leadership, YOOX NET-A-PORTER has signed important partnerships worldwide. In China, a joint venture between Richemont, YOOX NET-A-PORTER and Alibaba announced in 2018 puts the Group in pole position in the world’s biggest luxury market. In the Middle East, YOOX NET-A-PORTER has partnered with Mohamed Alabbar, the most visionary entrepreneur in the Gulf, since 2016.
YOOX NET-A-PORTER GROUP directly employs nearly 5,500 people globally. The Group has been recognized as a Top Employer by the Times of London and in Italy.
Defined by the New York Times as “the man who put fashion on the net”, The New Yorker has also suggested that “no-one has had more to do with bringing e-commerce to fashion than Federico Marchetti”. He convinced many luxury houses to take their initial steps online at a time when the web was largely unchartered territory.
Over the past two decades, Marchetti has brought speed and agility to the luxury industry and reinvented the business of fashion through technology.
He has gained the trust of the most important luxury brands in the world, such as Hermès, LVMH’s Fendi and Kering’s Gucci, who consider NET-A-PORTER a neutral platform even as part of Richemont. He has redefined the in-store customer experience for brands including Valentino through a game-changing definition of omnichannel (the Group’s pioneering “Next Era” initiative).
Marchetti has changed the way people shop. If an online shopper is buying luxury right now, chances are it’s coming from YOOX NET-A-PORTER. Today, YOOX NET-A-PORTER serves more than 4.3 million customers in 180 countries with more than 1 billion visits to its online destinations annually. Over 1 billion euros of luxury is sold through mobile phones each year. Now, he is transforming the luxury shopping experience through artificial intelligence, visual recognition and big data.
In 2016, Marchetti was among the first to believe in the potential of selling high jewellery and luxury watches online, pushing NET-A-PORTER and MR PORTER to become leaders online, today selling brands such as Piaget, Cartier, Audemars Piguet, Pomellato, IWC and Buccellati.
He has driven the creation of a state-of-the-art logistics platform outside Milan for the Group’s Luxury Division brands NET-A-PORTER and MR PORTER to better serve European customers, in a move that preceded Brexit but will prove invaluable during the transition. The project is one of the most complex techno-logistic platform renewals in the history of e-commerce, giving NET-A-PORTER and MR PORTER a huge competitive advantage for the future.
Sustainability and Social Responsibility
Marchetti brings an entrepreneurial spirit to his social and environmental engagement.
In 2019, alongside HRH The Prince of Wales, Marchetti committed to The Modern Artisan project, a unique partnership between YOOX NET-A-PORTER and The Prince’s Foundation. The collaboration is designed to equip young artisans with data-driven design expertise and the skills to succeed in a fast-paced digital landscape while producing sustainable collections of luxury menswear and womenswear to the highest standards.
Supporting the next generation has always been a priority for Marchetti. In 2011, together with Franca Sozzani, he launched The Next Talents programme with YOOX, which will continue in the future with the “Vogue YOOX Challenge”, designed to foster a responsible fashion through technology and innovation.
He has been a pioneer in promoting sustainable fashion and managing his business in an environmentally responsible manner. Back in 2009, he launched YOOXYGEN, the first online destination dedicated to responsible brands, and the ECOBOX, the first responsible packaging in fashion e-commerce, made out of 100% recyclable and recycled materials. He brought YOOX’s best practices to NET-A-PORTER after the merger, leading to the launch of NET SUSTAIN, the sustainable fashion destination on NET-A-PORTER.
He is strongly committed to creating a culture of inclusivity and gender balance. At YOOX NET-A-PORTER, women make up more than half of the Group’s leadership, holding some of the most strategic roles, and almost two-thirds of its global workforce. He is a founding member of the Male Champions of Change’s Global Technology Group, which works to advance gender equality in the tech industry. In this regard, in 2019 YOOX NET-A-PORTER launched the global tech contest ‘Incredible Girls of the Future’ to find the female fashion entrepreneurs of tomorrow, with young women challenged to create innovative new fashion apps with sustainable purpose at their core.
Cognisant of the challenges that businesses face in finding future digital talent, Marchetti is committed to boosting digital skills among young people. YOOX NET-A-PORTER partners with Imperial College London in the UK and the Fondazione Golinelli in Italy to provide local schools with coding lessons, hackathons and fashion-related digital games. Over 6,000 young talents have been trained since 2016, more than half of whom were girls.
In 2020, Federico established a mentorship program offering his experience and skills to aspiring entrepreneurs from backgrounds traditionally underrepresented in the sector. Over the course of the program Federico provided the mentees with advice, strategic suggestions and, where possible, concrete continued support.
Recognitions and awards
His achievements were recognized by the President of the Italian Republic who knighted him as a Cavaliere. He has also received the Leonardo Award for Innovation.
Marchetti was named by Wired UK as one of the most influential figures in European tech and featured by Vanity Fair America as one of “The Disruptors” in the magazine’s New Establishment List.
In 2020, Federico Marchetti joined the Giorgio Armani S.p.A. Board of Directors as an independent non-executive director.