Giorgio Armani, along with other brands, is teaming up with e-tailer Yoox to invest in up-and-comers. The fashion firm will join Yoox in supporting students through a one year Master’s program in e-Fashion at Politecnico di Milano’s business school. According to WWD, in the next academic year, Armani will offer one annual scholarship, covering the tuition fees of about $25,000, including a work experience opportunity with the Emporio Armani online store project team, which is powered by Yoox. Yoox itself will also offer 3 more scholarships to the other 40 annual students in the program, and Diesel, Marni and Valentino will provide the accompanying internships.
Giorgio himself said that e-Fashion "is still a sector that has been little researched and at this point there are few professional experts capable of understanding and interpreting the dynamics of the market. The future lies in the Web and…I hope that this academic program will assist aspiring students to express their full potential." He probably hopes the program will also turn out a mastermind who can successfully market his brand online!
CEO Federico Marchetti stated, "Yoox invented a profession in Italy eight years ago and now makes available its experience to help train the new fashion generation." So Yoox’s investment is somewhat self-interested, too! They’re training their future employees!
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For more information, visit Yoox online.