Yoox Net-a-Porter puts in place a succession plan for Federico Marchetti

Yoox Net-a-Porter relay. The ecommerce group, owned by Richemont and created in 2015 from the merger of both companies, has begun the search for a new CEO. Federico Marchetti, who has lead the group since its merger, will hand over the CEO role when a successor is found. He will stay on as Chairman, as reported by WWD. His contract expires in 2021.

Marchetti founded Yoox in 2000 and took the company public in 2009. In 2015, the company merged with Net-a-Porter, creating a luxury ecommerce giant. After the merger, Natalie Massenet, founder of Net-a-Porter, left the company and Federico Marchettti took the reins of the new group, which reached sales of  2.1 billion euros (2.3 billion dollars) last year, 11.8% more than the previous year.

The company currently has 4.3 million active consumers and operates with the Net-a-Porter, Mr. Porter, Yoox, and The Outnet platforms, the latter two with an outlet model. In addition, the platform operates the online platforms of brands such as Giorgio Armani and Valentino. The company does not communicate its results since it was excluded from the stock market in 2018.