In June 2000, Net-A-Porter Group launched its website as an online luxury fashion retailer. Natalie Massenet, founder and Chairman of the company created such a unique online space at the time, where she faced minute competition yet she had high diversification in terms of the product that she made available, it turned into such a global success, that she was able to sell the company to Swiss holding firm Richmond for just over fifty million dollars. This research paper gives an in-depth strategic review of the present strategic position of net-a-porter and gives recommendations as to how it can continue to grow be successful in the future. .
The e-retailing website is highly regarded by its five million customers each month to be user friendly as pick and choose is conveniently done because of the interactive website as well as the availability of an online customer representative for assistance, turning the virtual world more into a real life experience where customers are not just able to enquire into what they may need or want, but are also able to get hold of a response immediately, turning it more into a real life experience. This makes it much more easier for the customer to shop as they are feeling more at ease that their queries will be answered accordingly but also justifies the need to no longer go into the store. The website is regularly updated every week so that the customers always get to know the most up to date trends of the market. .
The company has loyal customer base, as well as due to the online presence the reach to final customers is far much greater. Further the company does not offer franchising due to which its profits are far much greater, as there are no middlemen for any cuts.
1.1 Vision & Mission Statement.
The vision that net-a-porter first began with which has carried the company through its great success was To make the world a more stylish place. This was to be achieved by understanding the customer, assessing her needs and desires and meeting those expectations as well as exceeding them to always satisfy the customer and gain her loyalty.