Yoox Net a Porter reported group sales of €1bn in the first half for the first time as net revenues grew 15 per cent on a reported basis, underlining the shift in luxury shoppers buying online.
In a statement, Milan-based YNAP said sales on mobile devices now accounted for more than half of its net sales year to date.
First half adjusted net income came in at €38m versus €37m in the same period a year ago. Adjusted earnings before interest tax depreciation and amortisation rose 28 per cent to €98m. Sales grew in all key markets, it said. Northern America sales grew 17.3 per cent at constant currency, Asia Pacific sales were up 31.9 per cent.
YNAP saw nearly 400m visits to its website, which include Net-a-Porter, The Outnet and Mr Porter, with an average order value of €345, it said.
The global luxury industry is in the throes of adapting to epochal changes in shopping behaviour brought about by social media and the internet. The luxury market is set to grow 2 per cent to 4 per cent in 2017 at constant exchange rates but the gap between winners and losers will widen, consultants Bain said in May. The momentum of digital transformation continues to reshape the luxury industry and online sales will have the highest growth of any retail channel in the sector, Bain added.