Online fashion giant Yoox Net-A-Porter (YNAP) has revealed net revenues topping €2 billion for the first time amid its preliminary financial results for 2017.
In the full year to December 31, YNAP saw net revenues rise 16.9 per cent to €2.1 billion (£1.86 billion), driven by a “strong” fourth quarter where sales increased by 13.2 per cent to €575.1 million (£510.2 million).
Growth extended across all business lines with multi-brand in-season net revenues growing 18.3 per cent to €1.1 billion (£975 million), multi-brand offseason net revenues increasing €14.9 per cent to €789.6 million (£700.4 million) alongside gross merchandise value of its online stores rising 20.8 per cent to €217.5 million (£192.9 million).
Visitor numbers were also boosted by a strong fourth quarter, with traffic towards the end of the year rising 24.5 per cent, pushing full year visitors up 17.7 per cent to 842.2 million.
Although the number of orders in 2017 increased from 8.4 million to 9.5 million, YNAP was hit by unfavourable exchange rates seeing average order values fall to €328, down 1.7 per cent.
Notably this is also the first year that mobile sales accounted for over half of the total, with sales during Cyber Monday hitting and all time high of 96 per cent mobile.
“We’ve had a good year. Performance in the fourth quarter was strong across the business,” chief executive Federico Marchetti said.
“Net-a-Porter, Mr Porter, and Yoox did particularly well… I would like to thank the entire YNAP team for its hard work during the year.”