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Strong luxury momentum sees YNAP sales soar

Mr porter

Revenues have rocketed at luxury ecommerce giant Yoox Net a Porter Group, up 18.6% for the nine months to 30 September 2017, as the company reported “strong momentum” in luxury.

The company saw revenues of €1.5bn (£1.3bn) in the nine month period and third quarter revenues of €481.8m (£425.8m), up 17.7% in the same period last year, with growth across the business for the third quarter.

YNAP noted that the UK and European market had performed particularly strongly, and worldwide the group has seen almost 600 million visitors to its websites and 7 million orders in the first nine months of the year.

Midi skirts were the most popular item sold during Q3, with the most expensive item sold costing £58,000.

YNAP reported seeing “strong momentum in hard luxury” with customers responding with “enthusiasm” to the offer.

The results come after Mr Porter announced the launch of its own label Mr P, with YNAP saying own brand will be core to their strategy moving forward.

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