- Vivian Hendriksz |
As of 00:01 am, Monday, October 5, 2015, the merger between Yoox Group and Net-a-Porter has come officially into effect, with the newly formed (and named) entity Yoox Net-a-Porter Group holding a cool market value of 3.6 billion euros.
With the formation of the new group comes a new logo, which was revealed earlier today. The newly created group will also have its registered office in Milan, Italy where its legal, accounting and tax effects will be handled.
"Today marks the first official step in the journey of our game-changing merger and the realisation of a dream that started 15 years ago - a dream that all of us have worked incredibly hard to make a reality: to become the leader in our sector," commented Yoox founder and the new CEO of Yoox Net-A-Porter Group, Federico Marchetti.
"I am thrilled to see the passion with which our two teams have already come together - this energy is at the heart of building Yoox Net-a-Porter Group. Our combined force is staggering, our future potential extraordinary."
The merger of these two online retailing power houses was first announced this July, comes a month after Net-a-Porter founder Natalie Massenet bowed down from the company. She was previously believed to become a member of the board and executive chairman for the newly formed company.