HTLS 2020: Federico Marchetti, who put ‘fashion on the net’ talks about the role of luxury, digitization, fashion and more in a post-pandemic world – fashion and trends

Twenty years in the past (in 2000), lengthy earlier than the launch of Facebook, Instagram and the iPhone, Federico Marchetti based YOOX, the world’s first way of life e-commerce vacation spot. And in 2015, Marchetti drove the sport-altering merger of YOOX and NET-A-PORTER to create YOOX NET-A-PORTER GROUP, the world chief in on-line luxurious fashion. Federico was dubbed “the man who put fashion on the net” by TheNew York Times, the publication additionally urged that “no-one has had more to do with bringing e-commerce to fashion than Federico Marchetti”. He satisfied many luxurious homes to take their preliminary steps on-line at a time when the internet was largely unchartered territory.

Speaking to Shereen Bhan, managing editor, CNBC TV-18.at the 18th version of the Hindustan Times Leadership Summit, Federico shared how it began, “It was 1999, and I wanted to be an entrepreneur…. I thought that one day fashion was going to intersect with technology, the internet especially. Because those two worlds in 1999 were completeley separate and they needed someone to bring them together. And that’s basically been my role for the past 20 years. I’ve been trying to combine luxury with technology for the past 20 years. My inspiration, my philosophy has always been to find a good balance between human and machine.”

 

He went on, “Luxury is an industry that is all about emotion, quality and beauty, while technology is all about process, data and speed. I think it’s important to find a balance because if you move more towards technology you alienate the luxury, and if you are too much into luxury then you are missing out on the biggest trend ever in the fashion industry, which is the digitization of it.”

On being requested what the future of fashion and the union of luxurious and know-how will imply in a post-pandemic world particularly since individuals have stopped going to bodily shops in order to keep up well being and security guidelines on account of coronavirus, “The quality of digital shops have improved dramatically since 2005 when I came up with the first idea, and sometimes I have to say that digital shops are better than physical shops. But this doesn’t mean that physical shops will disappear. There will be a balance between going to physical shops and digital shops. And the final stage will be the perfect integration between the two.”

Talking about rising trends and what might be drivers of change, he shared, “In the past few months we have seen a big, big increase in everything that is timeless and investment pieces.”

About sustainability in fashion he stated, “In order to become more and more sustainable you need to use the progress and advancement coming from technology. He added that, the “Pandemic has made people aware of sustainable fashion. More and more brands and customers are now becoming aware of sustainable fashion.”

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