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YNAP sales jump 19%

Yoox Net-a-Porter Group’s (YNAP) net revenue grew by 19.1% on a constant currency basis to €515m (£435m) in the first quarter ending 31 March 2017, driven by fast growth across north America and Asia Pacific.

This represented a 15.4% year-on-year increase on a reported basis.

In the UK, net revenue grew by 14.3% to €66.7m (£56m) on a constant currency basis and by 2.5% on a reported basis, which the luxury etailer said had been hit by the drop in the value of the pound compared to the same period last year.

YNAP received 200 million visits to its sites, up from 178 million in the first quarter of 2016. It had 3 million active customers, up from 2.5 million during the same period last year. Its average order value also increased slightly, rising from €324 (£274) in 2016 to €343 (£290).

Chief executive officer Federico Marchetti highlighted the etailer’s new Next Era business model - which will see it join forces with luxury brand Valentino to launch an online superstore for the Italian fashion house - as a route to future growth.

Marchetti said: “The first quarter saw strong revenue growth combined with a number of strategic initiatives which put us on track for our ambitious short and medium-term targets.

“In particular, YNAP unveiled the Next Era business model which will allow luxury brands to embrace the revolution in online retailing by leveraging YNAP’s innovative omnichannel retail technology and expertise. Next Era will launch with Valentino and will drive a superior experience for customers and brand partners.”

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