Image courtesy of Yoox.com
Online retailer Yoox Net-A-Porter Group is seeing accelerated revenue growth across all regions despite the challenging luxury market.
The group’s 450.8 million euro in revenue for the first half of 2016, roughly $502 million, was a 17 percent increase from the same period of 2015 when using constant exchange rates, or 12.8 percent at current exchange. As other luxury players report declining sales due to turbulent times, Yoox Net-A-Porter has seen its sales increase since its merger last fall.
On the rise
For the first half of 2016, YNAP’s average monthly unique visitors were 28 million, up from 26.1 from the year-ago. In the same period, orders also increased from 3.3 million to 3.9 million and the number of active customers also rose to 2.6 million.
Within in-season multibrand retail, including Net-A-Porter and Mr Porter, new partnerships with Prada and Tiffany & Co. helped drive organic revenue growth at the beginning of the year. The retailers also benefited from exclusive capsules from brands including Gucci, Dolce & Gabbana and Chloé.
Prada on Net-A-Porter
Mr Porter launched Ermenegildo Zegna in July and Net-A-Porter will debut Moncler in August.
As of June 30, YNAP’s in-season retailers account for 54.6 percent of its total consolidated revenues.
The group’s off-season business also launched special partnerships, including Yoox’s Soccer Couture (see story). Between the second quarter of 2015 and the same period of 2016, revenue from off-season activities grew 21.7 percent.
“Yoox Net-A-Porter’s growth has accelerated, reaching the high-teens in the second quarter, despite the mixed economic environment,” said Federico Marchetti, CEO of Yoox Net-A-Porter Group. “The positive momentum maintained across all our business lines demonstrates the strength of our model and its significant potential for further profitable development.”
Image courtesy of Yoox Net-A-Porter
The group’s results are contrary to today’s trend in retail.
Recently, multichannel peers Neiman Marcus reported a 4.2 percent drop in revenue for the quarter ended April 30 (see story), while comparable sales at Saks Fifth Avenue for the same period were down 5.7 percent.
Looking to continue its growth, Yoox Net-A-Porter is working toward further harnessing the potential of the luxury ecommerce market through 2020.
The group’s ambitious plan, revealed in July, includes an accelerated shift toward mobile to enhance conversions, customer engagement and retention. The retailer also plans to offer unique products, personalized marketing, creative and content and high-level service to continually attract high-value consumers (see story).
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