Thursday, August 18, 2022

Net-a-porter announces record results

Net-a-Porter has revealed its first profit since it was acquired by Swiss conglomerate Richemont five years ago: a profit performance of £54.2m. 

It‘s been a landmark year for the luxury e-commerce player which is celebrating its 15th birthday. Monthly unique visitor numbers have now grown to 10.7m after the fashion e-tailer invested £13.8m in IT improvements to its three websites Net-a-Porter, The Outnet and Mr Porter. Sales across mobile and tablet devices have increased, now representing 35% of total sales.

Net-a-Porter, which announced a merger with the luxury Italian e-tailer Yoox earlier this year, also launched the NET SET, (the world‘s first venture in uniting social media, fashion and shopping communities in one place) and became the first luxury multibrand retailer to reach over one million Instagram followers. The retailer‘s new sports fashion category ‘Net-a-Sporter‘ and the second year of its beauty category on Net-a-Porter and grooming on men‘s counterpart Mr Porter also grew strongly. 

Commenting on the results, Natalie Massenet MBE said:

“In the last 15 years, The NET-A-PORTER GROUP has radically transformed the luxury marketplace, combining fashion, technology, e-commerce and content in a unique way. The Group‘s pioneering innovation has driven the way consumers interact with luxury, as well as the luxury brands‘ approach to e-commerce. It has been an incredible journey, beginning with a concept and turning that initial idea into the world‘s premier online fashion destination.

In today‘s world where technological innovation is rapidly changing consumer habits and lifestyles, success in business will no longer be driven solely by the forces of competition but by the power of collaboration; collaboration between retailers and brands, and collaboration between and among consumers. This is where the future of fashion lies, a future we at NET-A-PORTER will continue to create.

We will strive to remain one step ahead of the game and continue to be the leading destination for fashion content and commerce, an authoritative industry voice and guarantee best-in-class service to our customers and brand partners.”


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