In its second-largest acquisition, Amazon buys the company for $970 million.
YOOX Group, an international web apparel and accessories retailer, is partnering with an Italian university to offer a master of online fashion degree for training in e-commerce careers.
Online retailer YOOX Group is partnering with MIP, the business school of the Politecnico di Milano, to offer a master of e-fashion degree targeting such e-commerce jobs as online store managers, web marketing managers and project managers.
The program is the first in Italy, YOOX says, and aims to help students advance in the growing international e-commerce sector. Online clothing sales in Italy alone saw 40% growth last year, according to a survey conducted by MIP in 2007.
The program is “a sign that new frontiers are opening for Italian fashion where luxury’s exclusivity meets Internet accessibility, providing a new and creative shopping experience. Internet and fashion are proving to be a winning combination for developing and exporting ‘Made in Italy,’” the company says.
The one-year master’s program which begins in November will incorporate classroom studies as well as feature guest lecturers. The program is limited to 40 students. Applications will be accepted through Sept. 15. YOOX Group, which runs online stores for high-end fashion brands such as EmporioArmani.com, Diesel.com, Marni.com and Valentino.com, will offer students three scholarships and internships. YOOX has yet to decide if it will offer a similar program in the U.S.
YOOX Group, No. 110 in the Internet Retailer Top 500 Guide, posted $121.7 million in sales in 2007, up by 44.4% from $84.3 million in 2006.