Fashion Business YNAP Sales In The First Half Of Fiscal Year First Broke 1 Billion Euros

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Yoox Net-A-Porter (hereinafter referred to as YNAP) on Wednesday announced the core financial data of the company in the first half of the fiscal year 2017, driven by strong business performance in the first half of this year, sales grew by 19.5% over the same period last year, breaking a record high of 1 billion euros.

In the first half of June 30, 2017, the core financial data of YNAP were as follows:

Sales in the first half of this year amounted to 1 billion 30 million euros, which was in line with analysts' expectations, up 19.5% from 897 million euros in the same period last year, an increase of 16.3% over the same period.

In the first half of the year, the profit before depreciation and amortization (EBITDA) was adjusted to 98 million 800 thousand euros, an increase of 28.1% compared with 76 million 500 thousand euros in the same period last year.

Orders increased from 3 million 900 thousand in the same period last year to 4 million 500 thousand, the average order price increased from 335 euros last year to 345 euros.

User visits increased from 342 million 700 thousand to 394 million 100 thousand in the same period.

The number of active users increased from 2 million 600 thousand in the same period last year to 3 million.

CEO Federico Marchetti said at a conference call that he was satisfied with the company's performance in the first half of the year, and that the integration of Yoox and Net-A-Porter has been progressing smoothly.

In addition, Marchetti also said that cooperation with Ferrari SpA (Ferrari) was in good progress, and it is expected that the latter's online flagship store will be released in the first quarter of 2018.

In June this year, YNAP group in Europe, the United States, and the Asia Pacific region were France.

The brand Isabel Marant has launched a new online store and has launched a new line of See by Chlo E in the online store of French luxury brand Chlo.

YNAP 2017 in the first half of fiscal year, the performance of each business line is as follows:

In the second quarter of the same quarter, the sales volume of commodity business increased by 19.5% to 286 million 300 thousand euros, and sales in the first half of the year were 552 million 900 thousand euros, up 19.8% from the same period last year, accounting for 54.6% of total sales.

Sales of discounted goods in the past quarter were 381 million 700 thousand euros, up 18.8% from the same period last year, accounting for 36.9% of total sales.

The flagship store sales of the brand's official website grew 23.9%, reaching 99 million 500 thousand euros, accounting for 9.6% of total sales.

YNAP 2017 in the first half of fiscal year, the specific performance in various markets is as follows:

Italy's market performance was stable. Sales in the second quarter increased by 13.2% compared with the fixed exchange rate, reaching 33 million 100 thousand euros, and sales in the first half amounted to 64 million 400 thousand euros, an increase of 12.2% over the same period.

In the first half of the year, sales in the UK increased by 13% over the fixed exchange rate, reaching 138 million 500 thousand euros.

Net sales in the second quarter amounted to 71 million 800 thousand euros, a year-on-year increase of 11.7% according to the fixed exchange rate.

In addition to Italy and the United Kingdom, the first half year sales in the European market increased by 9.7% over the fixed exchange rate, reaching 267 million euros.

As the main market of YNAP, North America maintained its momentum at the beginning of the year, with sales reaching 323 million euros, an increase of 20.3% compared with the same period last year. Its growth rate was 17.3% at the constant exchange rate, of which second quarter sales amounted to 1.612 billion, and the growth rate was 17% over the same period.

The Asia Pacific region's performance is still strong. Sales increased by 31.9% at the fixed exchange rate, up to 1.785 billion euros, the highest growth rate in all markets. Mainland China and Hongkong are the main driving force for sales growth.

In the second quarter, sales increased by 28.2% compared with the same period last year, with an increase of 30.8% at the constant exchange rate.

The sales volume of other countries and regions in the world has increased by 13.1% over the same period of exchange, reaching 63 million 300 thousand euros.

Above: the performance of YNAP 2017 and 2016 in the second quarter and the first half of fiscal year in various markets

In the first half of fiscal year 2017, YNAP further increased its investment in technology and invested 80 million 200 thousand euros in the global technology logistics sharing platform.

In addition, a new version of YOOX application has been launched on iOS and Andriod platform to promote the performance of mobile terminals.

At present, mobile terminal sales have surpassed the sales of computer terminals, accounting for more than 50% of total sales.

YNAP also plans to open a new office and distribution center in Dubai by the end of this year, and complete the expansion of Bologna's Interporto logistics center and the establishment of Milan's seasonal logistics center.

The YNAP Group expects its annual sales to be consistent with the previous five year plan, and emphasizes that it will not change the previous forecast of the profit of the whole year. It is expected that the core profit will be increased after 2017.

In March last year, Yoox, a luxury electric provider in Italy, bought a British luxury electric business Net-a-Porter by changing its stock from Switzerland's peak group.

After the merger, the company was renamed Yoox Net-a-Porter and was officially listed on the Milan stock exchange in October last year.

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