Online retailer Yoox Net-a-Porter (YNAP) achieved a record turnover in 2017, surpassing two billion euro. That is a growth of more than 10 % compared to the year before, when it just missed that milestone.
“A very good year”
YNAP’s total turnover reached 2.1 billion euro, an 11.8 % increase. Prior to exchange rate effects, the increase was even 16.9 %. Its fourth quarter turnover growth was lower, 6.9 % to 575.1 million euro, because its products’ availability at web shop The Outnet was temporarily lower.
“We have had a very good year, with strong fourth quarter results throughout the group. Net-a-Porter, Mr Porter and Yoox in particular performed very well. The Outnet’s turnover was temporarily impacted by a migration to a new distribution center, but we have passed that point now and product availability has been restored completely”, CEO Federico Merchetti promised.
YNAP’s strongest performance was in Asia, where its turnover grew 17.7 % to 355.8 million euro. European turnover, excluding Italy and the United Kingdom, grew 12.4 % and North American turnover jumped 10.2 %. Italy and the United Kingdom also performed well, with 14.2 % and 6.2 % increases respectively.
The company’s websites welcomed 842.2 million visitors in the past fiscal year, which is a sizeable increase compared to the 715.5 million visitors from the year before. The number of orders also increased from 8.4 to 9.5 million, although the average spend did drop slightly, from 334 euro to 328 euro.