Dive Brief:
- London-based luxury fashion e-commerce platform Farfetch has named Nick Tran as its new chief marketing officer.
- Tran was most recently global head of marketing for TikTok, where he oversaw brand strategy, paid media and social media. He’s also previously served in marketing roles at Hulu and Samsung.
- The appointment comes at pivotal time for Farfetch, which has plans to create an e-commerce behemoth by purchasing a large stake of rival Yoox Net-a-Porter from French luxury conglomerate Richemont.
Dive Insight:
Tran has made a splash in the marketing world, earning accolades from AdWeek and Forbes for his work making novel ad campaigns. However, it was widely reported last year that Tran unexpectedly left TikTok after less than two years when executives grew tired of some of his more unorthodox marketing strategies to promote the social media company.
That includes an idea to create a series of ghost kitchens — which exclusively make food for delivery or takeout — that would cook viral recipes from TikTok. Another Tran-led initiative was TikTok’s planned collaboration with celebrities such as Lil Nas X and Grimes to create a series of NFTs, though the digital collectibles never ended up being released.
Before he was poached by TikTok, Tran worked at Hulu, where he spearheaded the “Better Ruins Everything” campaign. The ad spots featured celebrities including Sofia Vergara and Sarah Silverman warning viewers against doing things like flying first class or subscribing to Hulu because it would then be hard to go without these services.
Edward Sabbagh, Farfetch’s chief marketplace officer, praised Tran’s appointment.
“I am thrilled to welcome Nick, an accomplished marketing executive who has a very strong track record in creating successful brands and marketing moments that engage Gen Z and Millennial audiences around the world,” Sabbagh said in a statement. “Successful marketing requires constant innovation and a willingness to push the envelope, something that Nick displayed at TikTok, in particular.”
Tran is joining the company as it attempts to build a luxury e-commerce powerhouse.
Farfetch and Mohamed Alabbar, a Qatari businessman, have struck a deal with Richemont to acquire a 50.7% stake in Yoox Net-a-Porter. Farfetch would then have the option to buy the rest of the Yoox Net-a-Porter in the five years following the transaction.
In exchange, Richemont is receiving Farfetch shares that represent a roughly 12% stake in the company. The deal recently cleared an important hurdle by getting approval from the U.K. Competition and Markets Authority.
via https://www.aiupnow.com
Natalie Schwartz, Khareem Sudlow
