Although there are no job losses as of yet, the creative studio will be working longer daily hours in order to increase output at the newly formed group. Some managers’ jobs are being altered with fewer direct reports and responsibilities. Buyers are not affected by the changes. Their restructuring is reported to impact c.400 staffers in the UK and US.
The merger between the two etailers was finalised earlier this month and made its debut on the Milan Stock Exchange, with Chief Executive Officer Federico Marchetti responsible for day-to-day operations. He has said the merger is about growth and the evolution of both brands: “Net-a-porter.com will take luxury to the next level and preserve its Anglo-Saxon character, while Yoox.com will retain its lifestyle DNA of fashion, design and art, with a strong Italian identity.”