Luxury Electric Business YNAP Will Invest In Technology Development

According to the world clothing shoes and hats net,

The group will continue to adhere to the five year growth target and continue to invest in technology development.

Luxury goods

Net-a-porter and Yoox Net-a-porter, the Yoox of the Yoox group, has become the largest in the world in recent years.

One of the suppliers.

Its monthly sales report in early January 2018 showed that compared with 1 billion 870 million euros in 2016, revenue rose by 11.8% in 2017 to 2 billion 100 million euros, and organic sales increased 16.9%.

Despite a large increase in capital spending in the past year, IT and logistics have had a significant impact on its earnings, especially in November and December, which has fallen sharply in the second half of the year.

However, under the impetus of all the business channels in all its areas, the electronic retailer still gained substantial revenue growth after deducting the external interest such as interest, taxes and depreciation.

To be sure, this has much to do with Yoox Net-a-porter's strategy of expanding its brand portfolio last year.

This includes the exclusive online retail partner of AzzedineAla a, the brand of the group, and the Mr Porter x Gucci series as well as Chlo and Stella McCartney series.

And in the category of high jewellery and watch, there are also many new brands, including Cartier, the largest jewelry watch brand.

In addition, Italy sports car brand Ferrari (its perfume line) will also be formally launched on the platform.

CEO Marchetti of YNAP said he was very satisfied with the new brand.

"This shows that our reputation is very high. In terms of lifestyle, innovation and technology, Ferrari is one of the most powerful brands in Italy. As with Moncler, it will add more content to the new platform, and we expect it to bring more revenue to our platform."

He also revealed that the YNAP group will also launch its own brand online this year.

In addition to brand growth, in 2018, the group will continue to strengthen its existing technology and operational capabilities and build a shared global technology logistics platform with existing resources. It is estimated that capital expenditure will reach 169 million 300 thousand euros, an increase of 30 million euros over the 2017 technology investment.

Its digital products will also become the main force in the new year's development. In its mobile applications, we will introduce the functions of displaying localized products and full channel purchase, and plan to invest about 170 million -1.8 billion euros to set up a new all-round stock and sharing technology platform for sustainable development.

Online, YNAP will also expand its business by opening new product display space in Milan and increasing the space of Interporto logistics center located in Bologna.

As early as January this year, it was reported that the largest shareholder of YNAP, the peak group, would acquire 51% of the remaining shares of YNAP at a price of 38 euros per share, with a total value of 2 billion 770 million euros.

The open takeover will be carried out through RLG Italia Holding SpA, which means that if the acquisition is successful, YNAP will be owned by the group and will be listed on the Milan stock exchange.

In February, Consob, a Italy stock watchdog, said that it hoped to get more details before throwing the green light to the group. Therefore, it suspended the review of Swiss Corporation's official takeover documents to understand the financial performance of YNAP 2017. It is expected that the final acquisition will be completed in four to six weeks once Consob has passed the document.

In response, Silvia Scagnelli, director of enterprise development and investment relations at the peak group, explains that the luxury group has made clear that YNAP will always operate as an independent company.

In the past few years, YNAP has been treating its largest shareholder, the peak group, in the same way, and this state will continue even if the future acquisitions are successful.

At the same time, it is also said that one of the reasons for its bid is to provide additional resources for YNAP to accelerate its development.

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