YNAP CEO Federico Marchetti joins board of Armani

YOOX Net-a-Porter chairman and CEO Federico Marchetti is to join the board of Giorgio Armani Spa as a senior non-executive director.

Marchetti, who founded YOOX 20 years ago is the first non-Armani family member to join the board of the Italian luxury brand.

He will hold the position while retaining his YNAP role, though in March of this year Marchetti said he was ready to step aside from the online luxury group when a suitable successor is found and would remain chairman to ease the transition.

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Marchetti announced his latest move in an Instagram post today and praised Armani for creating one of the few remaining privately owned luxury houses in the world.

He also thanked Armani for his early support of Marchetti's trailblazing luxury off-price venture YOOX in its early days and added that he was "honoured" to unite with the company.

Richemont-owned YNAP manages the e-commerce operations of Armani.com through its Online Flagship Stores division.