The French conglomerate, which was then known as PPR, established a deal with Yoox in 2012, to help power the online retail platforms for its labels during a time when it was still carving out a strategy. But, when Yoox, which merged with Net-a-porter.com, was acquired by Richemont, a rival conglomerate, earlier this year, Kering had to act and make moves to go it alone.
The transition, which is expected to be complete in the first half of 2020, was inevitable, as online sales have become the luxury industry’s most important engine of growth. Kering has already enlisted Apple to create applications for its sales assistants to scan inventories in order to support its plans.
Although has Kering kept Gucci, its star brand, separate from the partnership, the move deals a heavy blow to YNAP. Twenty clients, including Armani and Moncler, still currently entrust their e-tail platforms to YNAP, but it is expected that the Richemont deal will see other brands part ways with it.
Will Kering attempt to build a rival to 24sevres.com, the website developed by LVMH to stock its brands? Time will tell, but when the race to conquer the digital retail landscape is on – and the rewards of collecting private data on customer behaviour significant – no companies want to get left behind.