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Sales soar at Net-a-Porter despite £10m loss

Sales at online fashion retailer Net-a-Porter soared 23% to £533.7m in the year to March 29, but the company is still losing £10m a year.

The introduction of beauty products on the site, and a push into Asia and Australia, helped the retailer win new customers, but accounts filed to Companies House show it suffered a pre-tax loss of £9.7m, a slight improvement on the loss of £10.3m it recorded the previous year.

The etailer has been investing heavily, and spent £11m updating its three websites, which include menswear retailer Mr Porter and its discount site The Outnet.

The business also launched a high-end fashion magazine called Porter in February.

Net-a-Porter chief executive Mark Sebba retired in July after 11 years and the group is expected to announce a successor soon. The business continues to be chaired by its founder Natalie Massenet.

Readers' comments (1)

  • Turnover is irrelevant - it not what you take, it's what you make.

    Clearly this model is unsustainable and deserves no praise whatsoever.

    Unsuitable or offensive? Report this comment

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