Yoox Net-a-Porter (YNAP), the fashion online retailer owned by the Swiss luxury goods group Richemont, has appointed Geoffroy Lefebvre as chief executive, effective on Jan. 4. He replaces Federico Marchetti who remains as chairman.

In March, Marchetti announced his intention to relinquish the job as CEO but to stay as chairman to “ensure a smooth transition and set the new CEO up for success.”

Marchetti created Yoox about 21 years ago and remained at the helm after his company merged with Net-a-Porter in 2015. Lefebvre is currently group digital distribution director at Richemont.

Marchetti said that he has worked with Lefebvre “over recent times and he fully masters our business model.”