The general manager of Yoox Net‑a‑Porter for the Asia‑Pacific region and Japan discusses the key consumer trends in luxury fashion—and the dominance of quiet luxury
Think of buying luxury fashion online and Yoox Net‑a‑Porter inevitably comes to mind. The e‑commerce retail group’s online stores are synonymous with not only some of the best high fashion names in the world, but also the emerging brands it incubates.
This success is thanks to e‑commerce leaders such as Natalie Lee, Yoox Net‑a‑Porter’s general manager for the Asia‑Pacific region and Japan, who joined the group in December 2021 and brings with her a wealth of experience in online retail. Lee started her career in the strategic planning team of Kolon FnC, one of the largest fashion companies in South Korea, before working for Yoox while studying for her master’s in business administration in New York, which she shares was her “pivotal moment to transition from bricks and mortar to e‑commerce.”
She found this transition relatively smooth, attributing it to e‑commerce’s data abundance and her hands‑on experience in offline stores. Since then, she has worked at various e‑commerce platforms, including Zalora in Southeast Asia and Coupang in South Korea. She also assumed a leadership position at Vestiaire Collective for the Asia‑Pacific region, before taking on the role of general manager for the same region at Yoox Net‑a‑Porter in 2021. Earlier this year, her responsibilities expanded to include Japan, and she now oversees business localisation and value creation across the regions.
Under Lee’s leadership, Yoox Net‑a‑Porter has initiated several transformative projects that focus on bridging the digital and physical worlds. “To compete with other [brands] with physical stores, we’ve been actively exploring the opportunities to engage with our most valuable customers physically by hosting various standalone event collaborations and exclusive style suites,” she says.
This June, for instance, Net‑a‑Porter worked with the National Gallery of Victoria for its Melbourne Winter Masterpieces 2023 exhibition, Pierre Bonnard: Designed by India Mahdavi. This endeavour was a multifaceted approach that served several purposes. The initiative not only supported the arts and culture scene in Australia, but also deepened the retailer’s understanding of its Australian customer base’s cultural values and traditions. This enabled the creation of content and product assortments more aligned with the specific audience’s preferences and supported the ongoing narrative of Net‑a‑Porter’s Incredible Women campaign, which celebrates women from diverse backgrounds.
The group also regularly collaborates with partners to provide physical experiences for customers. “In 2023, we organised multiple events across Apac to directly engage with our customers. For example, we had a one‑year partnership with [Singapore’s] Mandala Club [that kicked off] in November 2022,” shares Lee. “We invited its members and our customers to exclusive health and wellness experiences in a unique and immersive environment.”
When it comes to consumer trends in the region, Lee underscores the prominence of quiet luxury, whereby designers elevate everyday items in luxurious ways. “It embodies how we want to dress today: powerful with a sense of ease. This mood has reached the peak of consumerism and shows no signs of slowing down,” she says, though she notes that this has been the long‑standing preference of the group’s customers. “For us, this isn’t a trend or a new wave. It’s a shopping mindset our customers have always had.” She cites Singapore customers as an example, sharing that while consumers here “have diverse fashion tastes and enjoy exploring various styles”, the allure of quiet luxury continues to hold sway, “with brands such as Loro Piana, Brunello Cucinelli and The Row consistently performing well on both Net‑a‑Porter and Mr Porter.”
Considering that it revolves around investing in high‑quality, enduring pieces, the trend resonates with the principles of conscious consumption. “Over the past 12 months, we’ve seen a noticeable shift in how our customers are adopting a more conscious approach to buying that goes far beyond just fashion trends,” shares Lee. “This has resulted in a strong desire to shop for quality investment pieces that can be worn for years to come. When making a purchase, our customers are considering sustainability, purpose‑driven brands and the longevity of products.”
Sustainability is a central tenet of Yoox Net‑a‑Porter. According to Lee, 90 per cent of its global customers consider sustainability credentials when making purchasing decisions. To make these values more accessible to its customers, all four of its platforms have dedicated verticals to showcase brands and partners committed to both sustainability and ethics for the planet and its people.