Federico Marchetti (businessman)

Federico Marchetti
Born 1969 (age 48–49)
Ravenna, Italy
Nationality Italian
Alma mater Bocconi University, Columbia University
Occupation Founder of YOOX and CEO of YOOX NET A PORTER Group
Known for Founding Internet retailing company YOOX Group
Website federicomarchetti.com

Federico Marchetti (born 1969) is the founder of YOOX and CEO of YOOX NET-A-PORTER Group.[1]

Education and early career

Federico Marchetti was born in 1969 and raised in Ravenna, Italy. [2] His father worked in an automobile factory and his mother was a telephone operator. Marchetti graduated from Bocconi University in 1993 with a degree in Economics. His first job was at the Lehman Brothers branch officer in Milan, where he worked in investment banking for three years. In 1998 he moved to New York City to pursue graduate studies, and received an MBA from Columbia University and following a brief career in finance and consulting, he created the Internet retailing company in 2000 in Zola Predosa.[3] in 1999.[4] While at Columbia, he made the decision to leave the banking industry and become an entrepreneur,[5] however exiting from his degree he took a job with Bain & Company in Milan after attempting to find a position in the American entertainment industry.[4]

Yoox

He came upon the idea of combining the “exclusive” nature of luxury fashion with the full “accessibility” of the Internet.[5] In 1999 he developed a business plan for Yoox, whose name comes from the Y and X chromosomes, combined with the 00 from the binary of computer code. He then quit his consulting job,[6] and after cold-calling venture capitalist Elserino Piol, whom afforded Machetti 4.5 million euros in funding in March 2000, in exchange for 35% of the company.[4] He created the Internet retailing company YOOX in 2000.[7] In 2010, YOOX Group opened its first offices in China in the city of Shanghai, opening its first mono-brand site there, www.emporioarmani.cn.[8] In 2015 his company acquired Net-A-Porter, changing the name of the firm to YOOX Net-A-Porter Group, becoming the largest e-commerce fashion company in the world, and in 2018 the company was acquired by Richemont.[9]

Art collection

Marchetti is an art collector, with paintings from artists including Ettore Sottsass, Franz West, Yoshitomo Nara, Mark Kostabi, Andy Warhol,[10] Lucian Freud, and Francesco Vezzoli. He began his collection in the early 1990s soon after he graduated.[11] He is specifically interested in works revolving around Dracula and the literature of Bram Stoker, and has travelled to research the subject.[10]

Recognition

In 2011, Marchetti was given an award for Innovation and Internet by the Italy-based Chi è Chi (Who's Who) organization.[12] On 25 January 2012, Marchetti and YOOX Group were awarded the Comitato Leonardo's Premio Leonardo award for innovation by Giorgio Napolitano, President of Italy.[13] He received the America Award of the Italy-USA Foundation in 2018.

References

  1. ↑ "CEO Talk | Federico Marchetti". Business of Fashion.
  2. ↑ https://www.telegraph.co.uk/luxury/mens-style/28151/how-yoox-became-the-amazon-of-the-fashion-world.html
  3. ↑ "BusinessWeek Executive Profile: Federico Marchetti".
  4. 1 2 3 "The Geek of Chic".
  5. 1 2 "Yoox CEO: 'I was going to do the Internet in a beautiful way'".
  6. ↑ Ellison, Jo (29 May 2015). "Lunch with the FT: Federico Marchetti". Financial Times.
  7. ↑ "Relief over pricing of YOOX IPO". Financial Times.
  8. ↑ "Federico Marchetti on Yoox's Global Path to Local Business". Women's Wear Daily.
  9. ↑ Arlidge, John (4 October 2015). "Net a Porter's new boss: I am the geek of chic" – via www.thetimes.co.uk.
  10. 1 2 Silva, Horacio. "The Italian Jobber".
  11. ↑ Passariello, Christina (6 March 2014). "Yoox Founder Federico Marchetti's Art-Filled Home" – via www.wsj.com.
  12. ↑ "Consegnati oggi a Milano i Chi è Chi Awards".
  13. ↑ "Italian Fashion Entrepreneurs Honored". Women's Wear Daily. January 30, 2012.
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