Yoox-Net-a-Porter sales jump on customer number increase
Net sales at Yoox-Net-a-Porter (YNAP) rose by 12.4% to €1.87 billion on a reported basis for the year ended December 31 2016, against the same figure from 2015. The driver behind this enviable sales growth? Customers are flocking to the fashionable etailer in droves.
YNAP’s online boutiques saw an additional 2.1 million “monthly unique visitors”, which helped to push order numbers higher by an impressive 18.3%. The downside to these metrics is that the value of the average customer’s order dropped from €352 to €334 – although the company says this is down to “unfavourable exchange rate movements” rather than any difference in how much people are choosing to spend.
One of the areas where YNAP really outperformed was in the running of their mono-branded flagship boutiques for previously online-shy fashion labels, like Moncler and Alfred Dunhill. These stores saw sales rise by 19% overall against full-year 2015.
Federico Marchetti, YNAP’s CEO, made the following comments in a statement:
“YNAP performed robustly throughout 2016, accelerating in the last quarter compared to the first nine months on an organic basis. This demonstrates our ability to deliver growth while investing in our future. The rapid execution of our group's combined ecosystem is laying the foundations for a leading, solid, long-term business."
“Simultaneously, we've exclusively launched new top brands and been the first to move into hard luxury; mobile now accounts for almost half of our sales as the result of constant innovation and unparalleled new content and design.”
This last result must be particularly pleasing for Marchetti, given that he stated, last October, that one of his “biggest objectives is to transform the company into a mobile-only company.” At the same time, he told the Associated Press that YNAP was “a new luxury conglomerate of the digital era.”
Three and a half months later, it looks like Marchetti is making good on his promises.
Dominion holds Yoox-Net-a-Porter in its Global Trends Luxury Fund.
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