YNAP Q1 sales up 19.1% driven by strong In-Season performance

Yoox Net-A-Porter Group (YNAP) has posted Q1 revenues up 19.1% on an organic basis (15.4% reported) at €515m, a performance it says was underpinned by strong growth in "In-Season" sales.

YNAP's Multibrand In-Season division includes Net-A-Porter.com and Mr Porter.com and it achieved organic growth of 20%. Multi-Brand Off-Season, which includes Yoox.com and The Outnet.com, was up by 16.4%, while Online Flagship Stores (the sites YNAP operates on behalf of a raft of luxury brands) achieved an increase in Gross Merchandise Value of 28%.

KPIs achieved in the quarter include an increase in the number of site visits from 178m to 200m, an increase in active customers from 2.5m to 3m and an increase in average order value from €324 to €343.

The business highlighted a number of key achievements in the quarter such as Net-A-Porter.com becoming the exclusive online partner for Alaïa and becoming the only authorised online retailer for Tiffany & Co in the fine jewellery category. Mr Porter added Stella McCartney's first menswear line and will shortly unveil an exclusive capsule collection with Gucci.

YNAP also announced some enhancements to its service offer, which will be introduced in September, such as the new "You try, we wait" initiative for EIPs and the new "At home" personal shopping consultation. Most significantly it revealed details of a new omnichannel business model it has developed in partnership with Valentino. Called NEXT ERA, it will be unveiled in early 2018.

"The first quarter saw strong revenue growth combined with a number of strategic initiatives which put us on track for our ambitious short and medium-term targets. In particular, [we] unveiled the NEXT ERA business model which will allow luxury brands to embrace the revolution in online retailing by leveraging YNAP’s innovative omnichannel retail technology and expertise. NEXT ERA will launch with Valentino and will drive a superior experience for customers and brand partners," said CEO Federico Marchetti.

"With numerous exclusive launches, capsule collections and innovative campaigns, including Alaïa, Cartier, Gucci, and Tiffany among others, YNAP is proud to reinforce its position as the leading online retail partner for the most prestigious brands in Luxury Fashion and jewellery and watches," he added.