Tuesday, August 16, 2022

Yoox Net-a-Porter revenues continues to surge in Q3


An increase in sales in the US and the Asia Pacific has helped Yoox Net-a-Porter record a 19 per cent organic growth in net revenues for its third quarter, prompting the firm to expand its watches and jewellery offerings.

The parent company of online fashion retailer Net-a-Porter raked in €435 million (£382 million) for the three month period to September 30, accelerating on the first half of the year.

Yoox Net-a-Porter also reported strong organic performance across all business lines – multi-brand in-season net revenues went up 19 per cent, multi-brand off-season net revenues also increased 19 per cent, while gross merchandise value of online flagship stores shot up by 26 per cent.

Meanwhile for the nine months to date, the fashion retail company recorded organic growth of 17 per cent at €1.332 billion (£1.171 billion).

READ MORE: Yoox Net-a-Porter profits and sales surge in first half

“Demonstrating its continued strength, Yoox Net-a-Porter has once again delivered robust organic growth despite a challenging economic and political environment,” chief executive Federico Marchetti said.

“Surging ahead, today we are advancing plans to grow our Hard Luxury offering, announcing a new commercial partnership with IWC Schaffhausen that will propel our Fine Watches and Jewellery category to the next level.”

The group‘s average monthly users also grew from 25.9 million in the first nine months of 2015 to 27.5 million for the year to date.

Orders also increased from five million to 5.9 million in that same year-on-year period.

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