Condé Nast to transform Style.com into an e-Commerce platform
The publishing giant takes aim at the $1.5 trillion market
Style.com is set to transform from its existing incarnation as a fashion news site, into a new e-commerce platform. Launching under the Condé Nast banner, the site will become the media conglomerate's long awaited online commercial entity. Following the news this week at Net-A-Porter founder Natalie Massenet has hit the Sunday Times Rich List, which is just one example of the opportunity that lies in the luxury fashion e-Commerce market that is currently estimated to be worth $1.5 trillion globally, it is no wonder that Condé Nast are eager to take a share of that.
Style.com has amassed a loyal following of fans who need not worry, as the news and runway coverage will continue under voguerunway.com, under the Vogue U.S. brand. It is estimated that Condé Nast will invest an estimated $100 million into the new entity over the next couple of years, which will have its base in London. The new e-Commerce site will carry between 100 and 200 high-end fashion labels as well as some gadgets, beauty, gifts and arts goods. Stay tuned to Buro 24/7 Middle East for more on these developments.