Could Kering be looking to start its own e-commerce platform to rival LVMH’s 24 Sèvres? Maybe. On Monday the luxury conglomerate (which includes Gucci, Saint Laurent, Balenciaga, and Alexander McQueen, among others) announced a new digital strategy. Among some of the initiatives include plans for in-house “e-commerce activities” that are currently being handled by Yoox Net-a-Porter. The transition is expected to happen in the first half of 2020.
While Kering ending its official partnership with YNAP seems like trouble for the popular e-tailer, Kering’s chief client and digital officer Grégory Boutté insists that the company will continue to work with YNAP.
“These exciting new initiatives have been designed to meet — and exceed — the needs of our Houses’ customers and to ensure we continue to offer them an exceptional experience across all channels in a fast-changing global market,” he said. “These opportunities have been made possible by the experience and know-how that Kering has gained over the years, notably through its successful joint venture with YNAP. We will continue to work with them post-transition and to enjoy a fruitful relationship.”
It’s still unclear of how Kering will approach doing things “in-house.” Will it’s brands eventually only be available online through their individual sties? Or will it launch a collective e-commerce platform — a one-stop shop for all things Kering? Online shopping is the company’s fastest growing channel, representing 6 percent of its retail sales for the first half of this year. An exclusive platform would certainly cater to shoppers looking for a luxury experience online. We’ll find out soon enough.