Yoox and Net-a-Porter have completed their merger into the Yoox Net-a-Porter Group, creating a new online luxury fashion group with an annual turnover of €1.3 billion. Synergies will be obtained in logistics and other operations, but the two sites will continue to be managed independently. Alison Loehnis, former president of Net-a-Porter.com, has been promoted to president of the newly merged group, following the resignation a month ago of Natalie Massenet, founder and executive chairman of Net-a-Porter. Reporting to Federico Marchetti, founder of Yoox.com and chief executive of the newly merged group, Loehnis will be responsible for Net-a-Porter.com, MrPorter.com and TheOutnet.com.