Farfetch reportedly appoints new YNAP CEO

Luxury group Farfetch is understood to have appointed a new chief executive officer for its Yoox Net-a-Porter Group (YNAP), with the individual in question believed to be entering the company in the new year.

Farfetch’s former Latin America vice president Daniel Funis has reportedly been tapped for the role, according to industry sources for Drapers.

The media outlet said that Funis would be succeeding interim chief executive Alison Loehnis, who has been leading the company in the top position since October 2022.

Funis first joined Farfetch in 2011 as managing director of Brazil and later moved up to lead a special project for the business before stepping away from the company in September 2022.

His return to take on the helm position of YNAP follows Farfetch’s acquisition of the luxury fashion group in August 2022, initiated after Richemont opted to sell its 47.5 percent stake in the e-commerce company.

At the time, Symphony Global also took a 3.2 percent stake of the business, seeing YNAP become a neutral platform with no controlling shareholder.

The deal had been subject to an investigation by the UK’s Competition and Markets Authority, which said it was to look into if the takeover would pose unfair competition, a move that was later given the green light in October 2023, allowing the acquisition to go ahead.