Following Net-a-Porter’s chief executive Mark Sebba stepping down from his role last week, Drapers takes a look at his eleven years at the helm.
Profits continue to soar at Net-a-Porter, rising by 62% to £2.1 million for the year to January 2007. Turnover, which has nearly doubled year-on-year since Net-A-Porter launched in 2000, grew by 75% on the previous year from £21.3 million to £37.2 million.
Sales rise at Net-a-Porter by a massive 48% to £55.2 million, as pre-tax profits jump by 42% to £3 million for the year ended February 2nd.
The luxury etailer plans to launch its online discount venture, TheOutnet.com in April 2009, after pre-tax profits rocket by 300% to more than £9 million in 2008.
Net-a-Porter sees pre-tax profits more than treble to £10.1 million for the year to January 31.
Luxury goods group Richemont confirms its intention to buy Net-a-Porter
Net-a-Porter launches dedicated denim boutique, as the latest specialist category area on the site. The site already boasts boutiques for loungewear, workwear, vacation and wedding collections.
Menswear buyer Toby Bateman is appointed buying director for Net-a-Porter’s menswear site, Mr Porter.
Net-a-Porter snaps up discount fashion etailer Koodos.com, which has entered administration.
Net-a-Porter Live, the website’s new digital TV station, launches. The ‘live’ element combines shopping and social interaction in a real-time sharing tool.
Net-a-Porter’s standalone menswear site, Mr Porter goes live. The editorial-driven site includes an online magazine, The Journal, and home page features.
Net-a-Porter makes three key appointments. Holli Rogers is named fashion director, Jenny Cossons fills the role of group head of brand relations and Tess Macleod Smith is appointed to the newly-created position of group publishing director.
Following the acquisition of ecommerce platform, Shouke, Net-a-Porter expands into Asia.
As part of owner Richemont’s growth strategy, Net-a-Porter launches sites for kidswear, homewares, health and beauty.
Net-a-Porter announces intention to launch its own fashion magazine within the next year. The etailer has a weekly digital magazine available via its website and iPad app. Lucy Yeomans editor-in-chief of online content.
Net-a-Porter debuts French, German and Chinese versions of its website. Asian customers make up a third of Net-a-Porter’s sales.
Pre-tax losses were £23.2 million, down from £27 million the year before. Despite the sales increase, the group warns it faces increased competition from luxury retailers and ecommerce sites.
With extensive experience in the magazine industry, holding staff positions at GQ, Variety and Fortune, journalist John Brodie is appointed editor-in-chief of Mr Porter.
Net-a-porter launches sportswear offshoot called Net-a-Sporter next week. The etailer’s performance-wear category will launch on 9th July with 37 premium brands. Net-a-Sporter will be accessible via the main site.
After 11 years as chief executive for Net-a-Porter, Mark Sebba steps down. Sebba will continue to sit on the board as a non-executive director.
Chief executive Mark Sebba is surprised by his colleague’s video tribute, thanking him for his 11 years at the helm of Net-a-porter.