yoox net a porter group s.p.a type public company traded as bit ynap industry fashion and leisure founded 2015 founder federico marchetti headquarters zola predosa bologna italy key people federico marchetti ceo products fashion products revenue 455.6 million euros 2013 1 operating income 23.9 million euros 2013 1 net income 12.6 million euros 2013 1 total equity 119.7 million euros 2013 1 number of employees 713 2013 1 subsidiaries us japan france spain china hong kong website www.ynap.com yoox net a porter group s.p.a is an italian internet mail order retailer of men s and women s multibrand clothing and accessories founded on 5 october 2015 after the merger between yoox group the global internet retailing partner for leading fashion and luxury brands and the net a porter group the world s premier online luxury fashion destination for content and commerce . yoox was founded by federico marchetti a former investment banker 2 in zola predosa near bologna in 2000 and has become an e commerce company that serves more than 100 countries worldwide . 3 4 compagnie financi re richemont agreed to merge net a porter with yoox without the knowledge of net a porter founder natalie massenet for a valuation of about 950 million about 1.4 billion which was much lower than what morgan stanley bankers believed the business to be worth . 5 contents 1 yoox history 1.1 corporate structure 1.2 logistics 2 net a porter history 2.1 brand extensions 2.2 charity work 3 see also 4 references 5 external links yoox history edit yoox s concept is to buy up overstocked or unsold items from previous seasons in a direct relationship 6 from renowned fashion houses including dolce & gabbana diesel gucci armani and cavalli 7 as well as manufacturers and authorized dealers 6 and sell them online at discounted outlet prices . this is to enable luxury brands to off load last year s merchandise without undermining their brands or cannibalizing sales at their existing stores . 8 vintage designer clothing chanel dior pucci etc. 9 10 is collected with the help of fashion editor polly allen mellen 11 12 and sold at special occasions . some fashion designers have created capsule collections exclusively for yoox.com such as hussein chalayan menswear 13 14 or alexandre herchcovitch . in addition to its eponymous web site the company through yoox services formed in 2006 15 operates the full price online stores of fashion houses marni launched in 2006 emporio armani 2007 diesel 2007 stone island 2008 c.p. company 2008 valentino spa 2008 miss sixty 2008 costume national 2008 energie 2008 emilio pucci 2008 dolce & gabbana 2009 moschino 2009 jil sander 2009 dsquared 2009 bally shoe 2009 roberto cavalli 2009 napapijri 2010 coccinelle 2010 giuseppe zanotti design 2010 alberta ferretti 2010 zeis house 2010 maison martin margiela 2010 ermenegildo zegna 2010 y 3 2011 brunello cucinelli and dirk bikkembergs 2011 all of which are referred to as powered by yoox . 3 16 17 18 in 2008 yoox launched its full price online menswear retail store the corner featuring established designer brands and a selection of niche fashion labels from italy and elsewhere . 19 20 21 september 2009 saw the launch of womenswear at the corner . 22 the name yoox is composed of the male y and female x chromosome letters linked by oo the infinity symbol or the zero from the binary code the fundamental language of the digital age . 23 corporate structure edit backed by venture capital firm balderton capital 24 yoox was founded as a privately held company 25 and achieved total revenues of 26m in 2004 . by the end of 2005 it had reached 70m . 26 in 2008 it reported sales of 138m a 48 % increase from 2007 . 27 75 % of yoox were owned by private equity firms capital kiwi italy 360 capital partner net partners italy and balderton capital then the european offshoot of benchmark capital now independent founder federico marchetti owned 9 % and 16 % were owned by senior managers . yoox went public at the milan stock exchange on december 3 2009 generated 95m in revenues from the ipo and was valued at 217m that day . 28 since the ipo 51 % of the stock is in the market about 11.5 % are owned by balderton capital kiwi owns 6 8 % nestor 2000 6.3 % jp morgan has a 5.4 % stake 4.7 % belong to marchetti and the rest to other shareholders . the company achieved a net profit of 4.1 m with revenues of 152.2 m in 2009 . 29 the company is listed on the borsa italiana and is a constituent of the ftse mib index . from its beginnings in 2000 the yoox internet platform was powered by hewlett packard . 7 in 2007 the web site had three million visitors per month and more than one million items were delivered worldwide . 30 in 2008 over 1.7 million products were shipped to 53 countries by the group . 31 yoox s ceo and founder is federico marchetti 32 the head of marketing and sales is massimiliano benedetti . 33 marchetti who had worked for bain & co. as a strategic consultant lehman brothers as an expert in luxury goods and as a banker in mergers and acquisitions 34 studied economics at bocconi university in milan 35 and holds an mba from columbia business school . 36 the company s us subsidiary yoox corp is a delaware corporation based in tribeca new york new york new jersey . 37 for the u.s. market yoox partnered with port logistics group plg of houston for supply chain management such as merchandise returns re packaging and shipping within the united states . the partnership also allowed for a direct relationship with u.s. designers and u.s. branches of european designers . 38 in spring 2009 yoox group announced its plans for an initial public offering at the end of 2009 . 18 27 39 this initial public offering ipo was realised at the end of november 2009 being priced at the top of the range of its valuation and the deal being coordinated by goldman sachs and the milan based investment bank mediobanca 40 yoox.com was listed among time magazine s list of 50 coolest websites 2004 in the lifestyle and culture category . 41 logistics edit all orders are dispatched at a warehouse in the italian headquarters bologna . 42 each item is tagged with a radio frequency identification rfid tag and is tracked to its exact location using a barcode detector . 43 international warehouses that serve as hubs exist in new jersey and tokyo . 44 yoox maintains 20 studios to make pictures of the merchandise with 25 photographers in italy and the us . 45 net a porter history edit net a porter founder natalie massenet is an american born former fashion journalist with women s wear daily and tatler . 46 she developed the concept of a magazine in website format where users could click to buy while trying to source product online for a fashion shoot . 47 having raised the 1.2 m approx 2m start up costs with the assistance of her then husband massenet launched the company from their flat in chelsea london . 46 in the early days the operation was so low key that the company s black delivery boxes were stacked up in the bathtub . 46 initially designers and investors were reluctant to support net a porter because it lacked a physical retail outlet . massenet recalled the credibility gap in a 2013 interview in the observer they d listen and they d nod and then afterwards they d say just tell me one more thing where is your store however in 2001 roland mouret was persuaded to sell his collection via the website . 46 by 2004 the same year in which it won best fashion shop at the british fashion awards the company was profitable . 46 in 2010 massenet sold a majority stake in net a porter to swiss luxury goods holding company richemont for an estimated 50m . 46 she remains an investor and executive chairwoman . 47 at the time it was bought by richemont in 2010 net a porter was valued at 533 million . 48 49 the business continues to grow and in 2013 it retailed products from more than 350 designers attracted more than two million monthly visitors to the site and an average spend of 500 around 850 . 46 brands it retails include stella mccartney yves saint laurent and diane von furstenberg . labels such as alexander wang yves saint laurent and rm by roland mouret have created capsule collections specifically for the site . writing in the observer in 2010 eva wiseman noted that being stocked by net a porter is becoming important to designers as it not only guarantees new customers but its net a porter s credibility gives a fashion brand value . 47 as of september 2013 net a porter employed 2 600 people in the uk us and hong kong with further offices in shanghai and fulfillment centres on the outskirts of three cities . 46 50 in march 2014 net a porter engaged ceft and company new york to celebrate the 1 year anniversary of their beauty division . the agency worked with key clients to create design and produce an interactive and on brand environment that entertained educated and encouraged conversations in the press and on social media channels . the agency approach was to distill a singular message and to blast that message across all media . that message was net a porter is going to do for beauty what it has so successfully done for fashion turn the business of beauty on its head by offering international access to a rigorously curated selection of brands . the 2 day invite only event was attended by editors of vogue sarah browne teen vogue elaine welteroth w magazine katie jayne becker nylon katie dickens instyle kahlana barfield and their peers and generated over 13 million impressions in 3 days 51 just on social media alone . this accounts for only those posts tagged with netabeauty 52 the full impact was far more broad . in august 2014 ceo mark sebba stepped down . his employees produced a video that went viral as an epic sendoff . 53 54 brand extensions edit a net a porter branded taxi in london . the outnet a site focusing on previous seasons designs at discount prices was launched in 2009 ; in 2011 a menswear site mr porter was established 55 and in 2013 a small beauty website was launched . 46 in early 2014 net a porter launched a print magazine called porter with an associated app and digital version of the magazine . 56 some 400 000 copies will be distributed six times a year in 60 countries . 57 playing off of its name net a porter recently added a sportswear section to their website called net a sporter . the sportswear section of the website was launched in july 2014 and hosts athletic wear from a variety of high end luxury brands . net a sporter features 10 different sections for activities such as the gym and cross train run yoga and dance tennis equestrian swim and surf sailing apr s sport and golf . 58 when speaking of the addition of net a sporter to the e tailer s online roster the company s president alison loehnis said we spotted a gap in the market for being a one stop shop for workout wear where fashion meets function and where performance and style are equally valued . 59 in august 2014 massenet revealed that she originally wanted to call the website what s new pussycat 60 the current name is play on the french expression pret a porter or