Yoox Net-A-Porter Q3 sales grow by 19%
Yoox Net-A-Porter Group has posted a rise in revenue of 19% in the three months ending 30 September 2016, driven by a strong performance in the US and Asia Pacific regions.
Net revenue for the quarter reached €435m with a strong performance across all of its business lines. Multi-brand In-Season (which includes Net-A-Porter.com and Mr Porter.com) net revenues were up 19% to €215m, Multi-brand Off-Season (including Yoox.com and The Outnet.com) net revenues were also up by 19% at €178m, while gross merchandise value of Online Flagship Stores (GMV2) was up 26% at €42.4m.
Average monthly unique visitors were up 2m at 27.5m in the nine months to the end of September and the group processed 5.9m orders, compared to 5m in the first nine months of 2015. Average order value slipped slightly from €354 to €331 reflecting a different mix of product and currency fluctuations while average active customers were up 0.5m to 2.8m.
Nine-month net revenue hit €1,332.5m, up 17.1%, which broke down across its business units as follows: Multi-brand In-Season revenue was up 15.4% at €705.2m; Multi-brand Off-Season grew 20.8% hitting €496.2; and Online Flagship Stores were up 17.3% at €131.1m.
CEO Federico Marchetti said: "Demonstrating its continued strength, Yoox Net-A-Porter Group has once again delivered robust organic growth despite a challenging economic and political environment. Surging ahead, today we are advancing plans to grow our Hard Luxury offering, announcing a new commercial partnership with IWC Schaffhausen that will propel our Fine Watches and Jewellery category to the next level."
Marchetti had previously pinpointed watches and fine jewellery as a key area for growth for the business. The IWC Schaffhausen watches will debut on Net-A-Porter.com and Mr Porter.com, who will be the first online only pureplay partners for the Swiss brand, from mid-November.
Other recent significant brand wins for the group include the introduction of Prada to Net-A-Porter.com and Mr Porter.com and Giorgio Armani and Ermenegildo Zegna to Mr Porter.com.
