British online fashion chain Net-a-Porter has left its losses behind. In its fiscal year 2014/2015, it had an 11 million pounds (15.21 million euro) profit.
Good sales deliver first profit
It was the online seller's first profit since it was acquired by investor Richemont 5 years ago. Last year, Net-a-Porter had a 9.7 million pounds loss last year, which is 13.41 million euro by today's exchange rates.
Its improved result comes on the back of record sales, with a 764 million pound (1.056 billion euro) turnover in its fiscal year 2015 (which ended in March), up 22.8 % compared to last year. 45 % of its sales came from Europe, 31 % from the United States and the remainder from Asia and the rest of the world.
Yoox merger will become internet giant
Net-a-Porter will have decent results to head into its Yoox merger. It was announced in March and will probably be finalized by September. The merger's goal is to offer the customer a more diversified luxury product range.
Net-a-Porter says it attracts 10.7 million unique customers on a monthly basis, while Yoox will add 18.8 million customers. The new Net-a-Porter and Yoox merger will be based in Italy.