Designer etailer Net-a-Porter.com is preparing to launch its online discount venture TheOutnet.com next month, after pre-tax profits rocketed by 300% to more than £9 million in 2008.
Sales at Net-a-Porter are also understood to have risen by more than 50% to about £85m for the year to the end of January.
Net-a-Porter said that TheOutnet would stock more than 200 luxury fashion brands with discounts of between 40% and 60%. Brands will include Christian Louboutin, Diane von Furstenberg, Herve Leger, Alberta Ferretti, Chloé and Oscar de la Renta.
The site will also stock smaller labels, such as Temperley London, which might not have the resources to set up a bricks-and-mortar outlet business.
Stephanie Phair, who was previously vice president of merchandising at luxury auction website Portero, has been appointed to head up the discount venture.
Net-a-Porter founder and chairman Natalie Massenet said: “When we do come out of this current crisis, TheOutnet will still be relevant. This is really about the life cycle of fashion, and for us there are good margins to be made.”
Massenet conceded there would be some overlap with Net-a-Porter customers, but said TheOutnet would allow the company to “reach out” to a new customer base.