Luxury Fashion House Embraces Digital Transformation

  • Kering plans to bring e-commerce in-house by 2020
  • Luxury fashion house owns brands like Gucci, Yves Saint Laurent, Alexander McQueen and Balenciaga
  • Currently handles e-commerce through joint venture with YOOX Net-A-Porter (YNAP)
  • YNAP to continue selling Kering’s products after transition
  • LVMH launched its own multi-brand website 24 Sevres last year
  • Kering creates data science team for better client service and experience

Luxury fashion conglomerate Kering, which owns iconic brands like Gucci, Yves Saint Laurent, Alexander McQueen, and Balenciaga, has announced plans to bring its e-commerce operations in-house by 2020. Currently, the company’s e-commerce activities are handled through a joint venture with YOOX Net-A-Porter (YNAP). YNAP will continue selling products from Kering’s brands even after the transition. This move follows LVMH, owner of Louis Vuitton, which launched its own multi-brand website, 24 Sevres, last year. Additionally, Kering has established a data science team to enhance client service and optimize available data usage for an exceptional experience in a rapidly evolving market. Kering’s chief client and digital officer Grégory Boutté stated that these initiatives cater to customers’ needs and maintain strong partnerships with YNAP post-transition.

Factuality Level: 8
Factuality Justification: The article provides accurate information about Kering’s decision to bring e-commerce in-house by 2020, the brands it owns, its partnership with YOOX Net-A-Porter, and the creation of a data science team. It also includes a quote from Kering’s chief client and digital officer Grégory Boutté explaining the reasons behind these decisions.
Noise Level: 3
Noise Justification: The article provides relevant information about Kering’s decision to bring e-commerce in-house and the creation of a data science team, as well as mentioning LVMH’s similar move with 24 Sevres. It also includes a quote from Kering’s chief client and digital officer. However, it could provide more details on how these changes will impact the companies and their customers, or offer insights into the reasons behind this decision.
Financial Relevance: Yes
Financial Markets Impacted: Kering’s decision impacts the e-commerce operations of luxury fashion brands and its joint venture with YOOX Net-A-Porter (YNAP)
Financial Rating Justification: The article discusses Kering’s strategic move to bring its e-commerce in-house, which affects its business operations and partnership with YNAP. This decision has financial implications for both companies and may impact the luxury fashion industry as a whole.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk