FBC member and founder & editor-in-chief of The Business of Fashion, Imran Amed interviewed Net-a-Porter’s Natalie Massenet, with his iPad of course, as part of his initiative: Fashion Pioneers – and pioneer is not a word he takes lightly. At a sold out event, filmed and streamed live globally from Net-a-Porter’s HQ, Imran delved into the making of the world’s most famous online luxury retailer.
What started as a 5-person operation out of an artist studio in Chelsea ten years ago is now a global operation that Natalie considers both a luxury fashion business and a technology business with a tech team that she considers “the brain hub” of the company. The online retailer has been profitable sine 2004 and has over 650 employees. The brand reached the greatest mark of success earlier this year: being purchased by luxury group, Richemont for £225 million, allowing its shareholders to realise their investments, and then some. Quite an achievement for a woman who said, “I never in a million years thought I would be an entrepreneur, certainly not a business one.” Natalie did assure us that despite the acquisition, Net-a-Porter is still very much independent.
Net-a-Porter’s offices are contemporary and clean – a manifestation of Natalie’s imagination for a media company where she “visualised a large white space with lots of young people working and smiling.” She has blazed a trail in what is the most successful means of retail sales, and in the beginning was “always confident in the business plan more than her own abilities,” and recalled the early years when people would see her at shows and say, “that’s that girl doing that funny website.”
There was a buzz in the room about the launch of Mr. Porter – the counterpart of the female-focused Net-a-Porter. The new mens site has been well researched and will be an online space for great style, with changes in tone of voice, navigation and packaging to suit the male shopper, and hopefully attract gift-buying women.
Imran Amed & Natalie Massenet
Natalie did tip off the audience with a few secrets on how to get on the site as a supplier:
1. Never try to go the personal route through her husband, friends or mother. It’s business.
2. Don’t crash her computer with large files.
3. Use catchy subject lines and include visuals (just not big ones per above)
4. Illustrate how you differentiate yourself from similar brands and how Net-a-Porter would tell your story.
5. Be persistent. Net-a-Porter is unpredictable. One day they may reject your brand, the next day they may love it.
Coming from a content background as a magazine editor, Natalie has expertly fused commerce with content, and considers herself an editor more than a buyer saying, “a successful retailer will think like an editor.” Three simple words of wisdom: “follow the consumer.” Women are working. They are not out lunching. They are behind screens and that’s where they shop now…and it’s evolving from computers to mobiles and iPads, so think applications as well as websites – which are the “most powerful tool for global consumers.” During the interview Net-a-Porter actually launched its new iPad application, which is a weekly magazine with purchasing capability, filled with rich video content and overlays. They are looking for feedback, so if you purchase the application, do let them know what you think.
Imran Amed with FBC blog editor & fashion stylist Rebekah Roy
On social media: Natalie is a big supporter as it “drives business.” Net-a-Porter has an affiliate programme of 430 bloggers and websites that have been handpicked to drive traffic and sales, and if companies are not using social media, “they’re missing out.”
Oh, and our favourite part of the evening was when Natalie countered Imran saying that he was inspirational, and after the talk admitted she does not enjoy public speaking, but really believes in Imran’s business, so did it for him. FBC thinks Imran is inspirational too. Well done, Imran!
