It's been just over two years since luxury e-commerce sites Yoox and Net-a-Porter merged to create the high-powered Yoox Net-a-Porter Group (YNAP), and in that time, the Milan-based company has surpassed a series of milestones that just about any retailer would deem impressive. Over the course of its first year, sales grew nearly 31 percent, soon after raising €100 million (about $113 million) in capital to expand into the Middle East and bolstered by this summer's industry-shaking news that it had adopted a completely fur-free policy.
But most ambitious of all, perhaps, came back in July 2016 when YNAP announced its plans to outpace the online luxury market through 2020, much of which was contingent on delivering 17 percent to 20 percent sales growth every year for, at least, the next five. So far, it's been on-target, and 2017 fared no differently: In the 12 months ending Dec. 31, YNAP saw year-end preliminary sales reach 2.1 billion euros (roughly $2.5 billion USD), or an 11.8 percent increase from the 1.87 billion euros ($2.2 billion USD) reported in 2016; meanwhile, its organic growth of 16.9 percent falls right within those figures YNAP first proposed in 2016, if a tenth of a percent short.
What's most promising about this particular report, though, is that at such a distressing moment in retail history, YNAP reported growth across all categories and regions: Multi-brand, in-season net revenues were up 18.3 percent; multi-brand off-season net revenues, up 14.9 percent; and gross merchandise value of online flagship stores, up 20.8 percent.
It's the latter — or, YNAP's online user experience as a whole — that really made waves, reporting 842.2 million visits in 2017 as compared to the 715.5 million the year prior. Those visits resulted in 9.5 million orders, a 1.1 million lift from the 8.4 million in 2016, and with 3.1 million active customers in 2017 (versus last year's 2.9 million) to boot.
All of this good news isn't official, however, until March 6, when the company's Board of Directors approves it. But for now, YNAP can rest assured knowing that it's right where it needs to be to hit that 2020 milestone. Maybe Nike (and its own enthusiastic five-year plan) should take note.