YNAP founder Federico Marchetti joins Giorgio Armani board

The founder of Yoox Net-a-Porter (YNAP), Federico Marchetti, is joining the board of luxury Italian label Giorgio Armani as a non-executive director.

In an Instagram post, Marchetti said he is “thrilled” to join the board. “Over the years Mr Armani has defined and driven quality and craftsmanship in the industry, with an approach that has promoted style over fashion,” he said. “An exemplar of the excellence of Made in Italy, not only in his products, but also in his business - one of the very few designers that has remained independent and private.”

This isn’t the first time the two luxury heavyweights have worked together. In fact, the Armani online store is designed and managed by YNAP.

Marchetti continued: “He has built an unrivalled legacy, but he remains a visionary. I experienced this first-hand 20 years ago, when he was among the very first to see the potential for online luxury and trusted me with his beautiful products on @YOOX and then on ‪Armani.com‬ and @MrPorterLive.”

Marchetti founded his label Yoox in 2000 in the early days of online fashion, before quickly building up the innovative label and publicly listing it on the Milan stock exchange in 2009. In 2015, he led the brand’s merger with luxury e-commerce site Net-a-Porter, creating YNAP as we know it today.

Marchetti announced in March he was stepping down from his position as CEO of YNAP after 20 years in the role. His contract expires in 2021 but he will stay on as chairman. The company is currently looking for a successor.

Photo credit: SGP