Net-a-Porter becomes profitable by its own measures
Back in black
Net-a-Porter is a leading luxury fashion e-commerce site, that cannot be denied, but what some people may not know, is that the online platform has been battling with balancing the books for some time. It has been reported that parent company Richemont, had to shell out £2 million in the last financial year to keep it afloat. However, as the new merger between Net-a-Porter group and Yoox prepares to take place, Net-a-Porter reports that it has achieved profitability in the past financial year.
According to a report posted by Net-a-Porter last week, the group made a £1.8 million profit last year, after tax. According to an insider, the Richemont report accounts for goodwill expenses and the Net-a-porter report does not include these, which explains the difference.
Other notable figures from the report include a boost in sales of 22.8 percent and an increase in new annual customers from 698,000 in the previous year, to 887,000 last year.