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Yoox Net-a-Porter Group and Armani announced a new strategic development as part of their 20-year partnership for their distribution model. Focus on the brand new omnichannel business model “Next Etra”.
Italian online fashion group Yoox Net-a-Porter Group is partnering with Armani Group to integrate digital into physical stores to foster “sustainability, transparency and circularity” for its customers, Armani said.
The fashion house has therefore just unveiled its new distribution model in light of what it claims to be “the rapid evolution of buying habits and demands“, which have become “even more evident” in the wake of Covid-19.
The goal of the plan is to create a “seamless connection” between customers and Armani’s products, both online and offline, the brand explained, using state-of-the-art technology.
The partnership will run until 2025 to enable the two companies to develop a revolutionary, digital and integrated shopping experience for customers both in-store and online.
Giorgio Armani, President and Chief Executive Officer of the Armani Group, said in a release: “Over the past few months, I have redefined the Armani Group’s business model based on a concept that is very dear to me: do less, but better. Mine is an invitation to consume more responsibly, with an emphasis on authenticity and change“.
Armani adds that the fashion system “needs to be rethought” and that technology can be the driving force behind a “more innovative approach” to enable the luxury fashion house to have a direct and personal relationship with its customers, understanding their expectations and offering them “the greatest possible choice” through the integration of physical and virtual shops.
This will be achieved through the “Next Era” business model designed by Yoox Net-a-Porter, which aims to accelerate progress in customer experience.
Customers will begin enjoying the new features of the “Next Era” model on Armani.com in 2021 farmbrazil.com.br.
Full integration is planned for 2022.
Orders will be processed through the Yoox Net-a-Porter distribution network, as well as Armani distribution centers and stores.
Federico Marchetti, president and CEO of Yoox Net-a-Porter Group, added: “Armani has always been at the forefront of the fashion and luxury world and one of the first to adopt online commerce with us. After a partnership that has lasted for two decades, we are both still driven by the desire to revolutionize the world of fashion through continuous innovation, as we have been doing since the first day we started working together“.
According to the consulting firm Bain & Company, luxury brands have been slow to embrace online sales. As a result, the digital channel accounted for only 12% of sales last year, but is expected to increase to 29-30% by 2025.
The Covid-19 pandemic, which forced brands to close their inactive stores and production sites, has nevertheless accelerated the efforts of luxury houses to expand and improve their online distribution channel alongside brick and mortar stores as part of a so-called “phygital” strategy.
Mr Armani also said that physical stores would continue to play a vital role in the sale of luxury goods, but that a majority of customers now look at products online first before trying them out and buying them in-store, so that the two channels can reinforce each other.
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Featured Photo : © Guindani Stefano[/vc_column_text][/vc_column][/vc_row]
