COMPAGNIE FINANCIÈRE

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Compagnie Financiere Richemont : Yoox-Net-A-Porter Appoints New CEO to Replace Yoox Founder

11/30/2020 | 03:44am

By Joshua Kirby

Compagnie Financiere Richemont SA subsidiary Yoox-Net-A-Porter said Monday that it has appointed Geoffroy Lefebvre as chief executive, effective January 4.

Mr. Lefebvre is currently Richemont's group digital distribution director, and will replace Federico Marchetti as CEO of the online fashion-retail platform. Mr. Marchetti is the founder of Yoox, which in 2015 merged with Net-A-Porter to create YNAP. The group was bought by Swiss luxury-goods conglomerate Richemont in 2018.

Mr. Marchetti will remain YNAP chairman during a transition period, the company said.

Earlier this month, Richemont announced it would invest $250 million in a joint venture with Alibaba Group Holding Ltd. and another online fashion platform, Farfetch Ltd., to boost its access to the Chinese market.

Write to Joshua Kirby at joshua.kirby@dowjones.com; @joshualeokirby

(END) Dow Jones Newswires

11-30-20 0343ET

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