Yoox teams up with Italian Foreign Trade agency ICE to promote Italian style
today Dec 18, 2017
Italian fashion e-tail specialist Yoox has struck a ground-breaking alliance with the Italian Foreign Trade Agency (ICE), tasked with the internationalisation and worldwide promotion of Italian companies. In a press release, the partners announced the creation of a website within Yoox which will be dedicated to Italian SMEs labelled as ‘Hidden Italian Gems’, in order to “boost their digital development in the USA and China.”
ICE started from a simple observation: Italian companies still have a low level of digital efficiency, since only 10% of them accept online orders, compared to 21% for French companies and 27% for German ones. Also, the governmental grant allocation to ICE for the fashion sector increased by 45% in 2017.
ICE therefore decided to turn to Yoox, which opened subsidiaries in the USA in 2003 and in China in 2010, in order to "carry out an intense online promotional and commercial effort in favour of 100 Italian brands," wrote the agency in a press release.
The new, dedicated website created with Yoox will host emerging designers and well-established labels, chiefly in the accessible luxury segment, operating on the apparel market (40% of them), footwear (25%), handbags and accessories (23%), jewellery (6%) and design items (6%). The project will also feature a "forward-looking omni-channel approach."
Yoox, part of the YNAP (Yoox Net-A-Porter) group, will select the brands involved in the project and the digital strategies to be deployed to promote them. The project is expected to kick off in mid-2018, with the Autumn/Winter 2018-19 collections.
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