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Yoox Net-a-Porter sales up 16% in H1 2016

Lauretta Roberts
05 August 2016

The Yoox Net-a-Porter Group has posted first half sales up almost 16% at €897m, helped by a particularly strong performance from its "Off-Season" business. Adjusted EBITDA for the period was up 15.2% at €76.m.

CEO Federico Marchetti said the luxury group had accelerated its growth in the second quarter of the year "reaching the high teens" despite continued economic challenges in the market. "The positive momentum maintained across all our business lines demonstrates the strength of our model and its significant potential for further profitable development," he said.

Multi-Brand In-Season

Multi Brand In-Season, which includes, Mr Porter, The Corner and Shoescribe, achieved sales up 31.1% at €490.1m. This was achieved despite tough comparisons and a slowdown in The Corner and Shoescribe, which will be retired in the third quarter.

High points of the half for the business unit included landing the deal to sell Prada online, an exclusive capsule collection with Gucci and the introduction of Tiffany & Co. Marchetti has previously said that fine jewellery would be a key area of growth for the group moving forward.

Multi-Brand Off-Season

Multi-brand Off-Season, which includes Yoox and The Outnet, recorded sales up 21.5% at €318.3m. During the period Yoox launched its #YOOXSOCCERCOUTURE initiative to tie in with FIFA Euro 2016 competition where 10 leading designers including Marni, Paul Smith and Dries Van Noten created limited edition Made in Italy collections for the site.

The Outnet also introduced Golden Goose and Proenza Schouler handbags in line with its strategy to increase its presence in the fast-growing activewear sector and accessories.

Online Flagship Stores

Online Flagship Stores which runs websites on behalf of a host of luxury brands, including Marni, Armani and Karl Lagerfeld, achieved sales up 11.4% at €88.7m. In June it unveiled a new website for French house Chloé.

Key KPIs

Other KPIs released by the Italian group included an almost 2m increase in average monthly unique visitors to 28m, 3.9m orders compared to 3.3m in the same period last year and an increase in active customers of 300,000 to 2.6m. Average order values, however, were down from €354 to €335.

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