Valentino and Yoox Net-a-Porter to create ‘the biggest store in the world’
Valentino has joined forces with e-commerce giant Yoox Net-A-Porter (YNAP) Group to launch a new omnichannel business model which will allow customers unprecedented, global access to its product offering.
The deal, announced Friday morning, will see the two companies partner to create an online superstore dubbed “Next Era”, which will incorporate “all the advantages of all business models, from the inventory at the physical boutiques to [YNAP's] eight distribution centers from Dubai and Shanghai to Milan, essentially giving rise to “the biggest Valentino store in the world” according to Valentino CEO Stefano Sassi.
Apart from offering access to the largest assortment of Valentino products, “Next Era” will also allow Valentino customers to rely on in-store mobile features such as a smooth checkout flow, full product information and availability of online inventory, and faster deliveries. Through YNAP’s technology, combined with the Order Management System in partnership with IBM, Valentino will have a single view of its inventory and a comprehensive profile of its customer base. “Whether they want to shop online, pick up in-store, have items delivered to separate locations, the options are endless,” said Federico Marchetti, YNAP chief executive.
The Valentino site will also undergo a new-look revamp, complete with a new functionality, driven by artificial intelligence, such as on-site personalization and contextual search, allowing customers to use a natural language to interact with the digital store.
Next Era is expected to launch in early 2018, with similar partnerships expected to ensue, given YNAP’s agreements with other luxury brands.