Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 316

Yoox and Net-a-Porter merger dispels oil and water myth of digital and luxury mix

Posted by fidest press agency su lunedì, 6 aprile 2015

britain-fashionIf you are looking for an expert comment on what the big money merger between Net-a-Porter and Yoox means for the luxury fashion industry as a whole, Qing Wang, Professor of Marketing and Innovation at Warwick Business School, has made the following comments.Professor Wang said: “The €3.4bn merger of Net-a-Porter with Yoox is yet another success story of creativity, innovation and entrepreneurship in the British luxury and fashion industry. “The merger will create an online global fashion giant, with combined sales of €1.3bn. This news helps to expel the myth that digital and luxury are like ‘oil and water’ – they don’t mix well. Quite the contrary, and I have to agree with the Vogue editor, Suzy Menkes, who succinctly pointed out luxury today is as much about high-tech as high heels. “The future of luxury retailing lies in understanding how the next generation in the twenties or even younger, feel about, and interact in, the digital world. Technology has become part of their lives from the moment they wake up to the moment they go to bed. “It is no longer a question of should luxury brands use technology, but how and when. Luxury brands who have embraced this trend have fared better than brands who haven’t, just look at how Burberry has become a market leader by making such a digital overhaul.“A bonus for the British luxury industry is the fact it may well have an edge with its competence in blending heritage with innovation.”

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