YNAP posts “remarkable performance” in H1

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Yoox Net-a-Porter

Online fashion giant Yoox Net-a-Porter (YNAP) has surpassed €1 billion in sales for its first half for the first time ever.

The retailer saw revenues jump 19.5 per cent to €1 billion (£900 million) compared to last year, driven by a 20 per cent organic revenue jump in its second quarter.

Profits also shot up 28.1 per cent to €98 million (£88 million) in the six-month period.

Elsewhere, YNAP saw strong performance in its key markets, with North America  rising 17.3 per cent on a constant currency basis and Asia-Pacific seeing a 31.9 per cent jump.

READ MORE:  YNAP opens new London tech hub amid £440m investment strategy

This was reflected in a boost in the number of site visitors, rising to 394.1 million from 342.7 a year prior.

Orders also rose to 4.5 million, up from 3.9 million, alongside an average order values rising from €335 (£300) to €345 (£308).

“In the first half we achieved outstanding results with revenues of over €1 billion thanks to organic growth of more than 20% in the second quarter,” chief executive Federico Marchetti said.

“This remarkable performance reflects our success in leveraging on strong company cultures to build one group and one team.

“We just hit another important milestone in our integration plan, with the launch of the first online flagship store on our new state-of-the-art technology.

“This enables us to deliver far greater personalisation through artificial intelligence and smart data.”

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