COMUNICADO: VALENTINO and YOOX NET-A-PORTER GROUP Join Forces to Create an Innovative Blueprint for the Next Era of Luxury Retail (1

 

COMUNICADO: VALENTINO and YOOX NET-A-PORTER GROUP Join Forces to Create an Innovative Blueprint for the Next Era of Luxury Retail (1

Publicado 07/04/2017 18:01:15CET

LONDON and MILAN, April 7, 2017 /PRNewswire/ --

-- Unparalleled Omni-channel Services for the Most Discerning Luxury Customers

VALENTINO and YOOX NET-A-PORTER GROUP (YNAP) have partnered to create a new omni-channel business model - NEXT ERA - to elevate the customer experience by reinventing the relationship between luxury brands and online retailers.

NEXT ERA is built on YNAP's unique understanding of the evolving luxury consumer ecosystem. It is a new business model that has its foundations in the valentino.com Online Flagship Store (powered by YNAP, a long-term partnership formed in 2008). This next generation model will enable VALENTINO customers' unprecedented online access to its products by leveraging the inventory from VALENTINO boutiques and logistic centres as well as YNAP's global network of eight fulfilment centres across the globe, stretching from New York and Dubai to Milan and Shanghai. NEXT ERA will capitalize on YNAP's unique distribution channels, specifically designed for the luxury industry.

Through this all-encompassing platform, VALENTINO customers will gain access to an even more extensive product assortment, in-store mobile features (smooth checkout flow, full product information and availability of online inventory), and faster delivery, with an enhanced service available in major cities where orders can be fulfilled from VALENTINO boutiques.

NEXT ERA combines YNAP's state-of-the-art technology with a leading-edge Order Management System in partnership with IBM that offers VALENTINO a single view of its inventory and a comprehensive profile of its customer base.

Utilising the Group's unparalleled knowledge of online luxury customer behaviour, YNAP will create a fully revamped valentino.com, creating a superior retail experience with a mobile-centric interface, a new look and feel and new functionality powered by Artificial Intelligence such as on-site personalisation and contextual search, enabling customers to use natural language to interact with the digital store.

The scope of this initiative is broad-reaching. Beyond the apparent benefits to be enjoyed by VALENTINO customers, the model unlocks enormous service improvements to customers of both NET-A-PORTER and MR PORTER. By integrating the VALENTINO Online Flagship Store inventory with the one allocated to NET-A-PORTER and MR PORTER the circa 10 million unique visitors of the world's leading fashion e-commerce sites will have access to an unrivalled assortment of VALENTINO product with enhanced express delivery options around the world. Building on the strengths of NET-A-PORTER and MR PORTER, the VALENTINO collections will continue to be brought to life through award winning content, superior product photography and video and expert styling and will be delivered in the stores' hallmark packaging.

NEXT ERA is a pioneering initiative that has at its heart YOOX NET-A-PORTER GROUP's innovative, service-centric approach and its dedication to its ever-growing and highly discerning customer base and brand partners.

NEXT ERA will launch in early-2018 (see appendix).

Briefing Note for Media  

Definition of new functionalities

Integrated Inventory 

Brands will have a unified view of their inventory across stores and warehouses, allowing them to manage their inventory more efficiently.

This also allows customers to see what is available in-store and online, from wherever they are browsing.

In the future, brand-owned and YNAP-purchased inventory could even be viewed across the same system, increasing the opportunities to sell full-price by selling inventory from either the brand or YNAP across each other's stores.

Mobile in store 

Mobile in-store has a variety of functions:


- Smooth the checkout flow by carrying out full payment via mobile to avoid the
friction and discomfort created by transacting with in-store staff
- If customers want to shop undisturbed, or the sales staff are occupied, help customers
find the items they are looking for in the sizes they want and suggest items that
might work for them via the mobile
- Alternatively, direct customers or sales staff to one another to maintain the personal
touch associated with luxury

Pick up and return in store 

They can then order online and pick up or return their items in store, giving them new ways to fulfil their orders as they see fit. When customers enter the shop the brand can create more opportunities for them to shop.

Fastest Fulfilment 

Fast delivery is the ultimate in luxury service. Customers will receive their orders faster than ever before as the platform will automatically select the best fulfilment option to satisfy the customer's order.

Single Customer View 

VALENTINO will gain a single view of its customers' interactions in-store and online, enabling them to continually optimise the experience, from product, store and site, to marketing and service.

Multi-Fulfilment 

Give customers the option to fulfil their purchases however suits them. If a customer wants to return something they bought online in store, decides to buy a pair of swimming trunks to take to the beach that day, and also wants a pair of shoes that is only available in another country to be delivered to their city address in another country, the brand can fulfil the orders exactly as the customer wants.

Briefing Note for Media  

VALENTINO Online Flagship Store Merchandising Facts


1) When did our Online Flagship Store division first start to run valentino.com?
a) VALENTINO Online Flagship Store opened in 2008 with first season SS08 (spring
summer 08)

  2. Most expensive VALENTINO items sold


a) SS16 - Embroidered Rock Jacket 4,200 EUR
b) FW16 - Long dress in embroidered tulle 9,900 EUR

VALENTINO In-Season Merchandising Facts


1) When did we first stock VALENTINO on NET-A-PORTER and MR PORTER?
a) SS06 for NAP, FW12 for MR P
2) Most expensive VALENTINO item sold on NET-A-PORTER
a) SS16 - 14,500 EUR
b) CRSS17 - 5,000 EUR

YOOX NET-A-PORTER GROUP  


 
Media contacts 

Analyst/Investor contacts     
Silvia Scagnelli                 
Corporate Development & Investor Relations Director 
T +39-02-83112811 
investor.relations@ynap.com  

Finsbury 
Edward Simpkins, James 
Thompson, Benita Barretto 
T: +44(0)207-251-3801 
ynap@finsbury.com  

Image Building 
Giuliana Paoletti, Simona Raffaelli 
T +39-02-89011300 
ynap@imagebuilding.it  

YOOX NET-A-PORTER GROUP  

YOOX NET-A-PORTER GROUP is the world's leading online luxury fashion retailer. The Group is a Global company with Anglo-Italian roots, the result of a game-changing merger, which in October 2015 brought together YOOX GROUP and THE NET -A-PORTER GROUP; the two companies had revolutionized the luxury fashion industry since their birth in 2000.

YOOX NET-A-PORTER GROUP is a unique business with an unrivalled offering including multi-brand in-season online stores NET-A-PORTER and MR PORTER, and multi-brand off-season online stores YOOX and THE OUTNET, as well as numerous ONLINE FLAGSHIP STORES, all "Powered by YNAP". Through a joint venture established in 2012, YOOX NET-A-PORTER GROUP has partnered with Kering to manage the ONLINE FLAGSHIP STORES of several of the French group's luxury brands.

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