YNAP Group Profits Rose 15.2% In The First Half

The world's largest Luxury goods Online retailers YooxNet-a-Porter group (abbreviation: YNAP The group has released its first half financial report. According to the earnings data, all business and regional performance of YNAP group rose. As of 6, about 30 days, the group's revenue in the first half of fiscal 2016 increased 13.3% to 897 million euros compared with last year, or 1 billion US dollars; net profit before tax profit rose 15.2% to 76 million 500 thousand euros; profits increased 15.2% from the same period last year, 37 million euros, or about 41 million 400 thousand dollars.

Group CEOFedericoMarchetti pointed out that the group business is accelerating growth, despite the economic downturn, but the group's second quarter business reached double-digit growth in high and medium, all the group's business has maintained a positive momentum of development, showing the potential profitability of the group.

It has benefited mainly from the promotion of designers in the quarter, including Net-a-porter, MrPorter, Porter, Thecorner and Shoescribe. Although the market environment is relatively difficult and the group's investment in Thecorner and Shoescribe has decreased, the total revenue in the first half of the year has increased by 10.5% to 490 million euros.

Luxury brands Prada, Tiffany, Moncler and ErmenegildoZegna joined the group's quarterly business. YNAP group also launched Gucci, Dolce&Gabbana, Chlo and OscardelaRenta capsule series in the second quarter. As of June 30th, multi brand business accounted for 54.6% of the group's total sales.

Despite the impact of the UK's departure from Europe, the electricity group's sales in the UK in the first half of this year still increased by 15.4% to 135 million euros, or about 152 million US dollars; in addition to Italy and the United Kingdom, the European region also showed an upward trend, rising 14.3% to 238 million euros and 267 million US dollars; sales in North America climbed 12.5% to 268 million euros and 300 million dollars.

The group said it continued to invest in technology and operations in the first half of this year, spending 48 million 100 thousand euros, not far from 46 million 900 thousand euros in the same period last year. During the period, the group is ready to use a new order management system to transfer all the online stores of the former YOOX group to the new system, and is expected to be completed before the fourth quarter of this year. The new order management system will integrate YNAP and its partner brand's retail network to facilitate data monitoring of the group.