Yoox Net-a-Porter’s new ‘temple of innovation’ focuses on AI and mobile commerce

Yoox Net-a-Porter’s new ‘temple of innovation’ focuses on AI and mobile commerce
By Hilary Milnes.

At Yoox Net-a-Porter Group’s new Tech Hub, which opened last week in London, artificial intelligence, mobile commerce and personalization are the center of the 500-person team’s focus.

“This is our temple of innovation,” said Yoox Net-a-Porter CEO Federico Marchetti in a video announcement for the Tech Hub’s opening. “Our goal is to transform this company to focus on mobile, because that’s where the customer is going. Mobile is at the center of our technology.”

Across the Yoox Net-a-Porter Group — which was established in 2015, following the merging of the two luxury e-commerce sites (Yoox and Net-a-Porter) and also operates The Outnet and Mr. Porter — mobile sales account for about 50 percent of company revenue. Marchetti has pointed out that the company’s customers are comfortable making big purchases on their phones, including a $130,000 watch that was recently sold by a personal shopper through the Net-a-Porter app. Currently, Yoox Net-a-Porter considers itself “mobile-first;” the goal of the Tech Hub is to drive it to become “mobile-only,” according to Marchetti.

Read more at Glossy.

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