YNAP sees slightly slower sales growth after strong LAN (Reuters) – Italian online clothing retailer Yux Net-a-Porter expects sales growth to slow slightly this year after strong sales boosted provisional underlying profit by 26% last year. there is
In early October, Italy’s Yoox partnered with high-end rival Net-a-Porter for an all-stock deal, bringing the burgeoning online luxury market leader to Swiss luxury group Richemont. CFR.C) acquired a 50% stake. )..
YNAP surpassed expectations last month, reporting estimated sales of €1.7 billion in 2015, up 31% as consumers across regions increasingly shop on mobile devices.
FEATURES YNAP sees slightly slower sales growth after strong
After discontinuing the batch of coins, initial sales increased by 21%.
The company said this year’s sales will increase among teens excluding the impact of currency fluctuations. The increase due to the exchange rate will also be small.
“The tailwind (from currency) that we had in 2015 is no longer there, at least in the first quarter of this year,” Chief Financial Officer Enrico Cavaulta said on a conference call with analysts.
YNAP will invest €150 million this year, mainly in technology, to work with IBM to create a single platform to support all the group’s online stores.
YNAP owns 6 multi-brand shopping sites. Four, including Net-A-Porter.com, sell the latest fashion collections, while Yoox.com and The Outnet.com offer discounts on past seasons. It also operates online stores for luxury brands such as Armani and Valentino.
Two of the four stores will be closed for the season this year to avoid duplication of customers. Contracts with six brands, including Roberto Cavalli and Brunello Cucinelli, which had a modest impact on sales in 2015, will not be renewed.
YNAP’s total adjusted EBITDA last year was €133.1 million, broadly in line with the €132.6 million average forecast in a Reuters poll of analysts.
Figures adjusted to exclude expenses related to stock acquisition rights.
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