Yoox Net-a-Porter has revealed a five year strategy plan that includes expanding its Mr Porter range with an own-label brand, growth in the Middle East and the US, as well as launch a range of luxury watches and jewellery.
The online luxury retailer's strategy, revealed today, also highlights plans to grow its annual net income by 17 to 20 per cent, slightly more than the forecast growth for the luxury sector of 15 per cent.
In addition, Yook Net-a-Porter aims to ncrease the adjusted pre-tax margin range to 11 to 13 per cent - up from eight per cent in 2015 - and to reduce overall company costs by four to five per cent of net revenues by 2020.
The launch of fine jewellery and watches, alongside Mr Porter's plans for an own-label brand, are also on the cards for the next five years.
Yoox Net-a-Porter also hoped to grow their market in the Middle East and the US, and improve data personalisation through localised editorial content and product recommendations. Here in the UK, it said it was committed to expanding its London headquarters and hiring new staff.
The company brushed off fears about the impact of Brexit, insisting it remained "confident in the strengths of its brands".
"The group expects to outperform its market thanks to its highly diversified geographical spread and well-balanced business mix,” it said in a statement.