Online fashion giant Yoox Net-A-Porter (YNAP) has revealed net revenues topping €2 billion for the first time amid its preliminary financial results for 2017. In the full year to December 31, YNAP saw net revenues rise 16.9 per cent to €2.1 billion (£1.86 billion), driven by a “strong” fourth quarter where sales increased by 13.2 per cent to €575.1 million (£510.2 million). Growth extended across all business lines with multi-brand in-season net revenues growing 18.3 per cent to €1.1 billion (£975 million), multi-brand offseason net revenues increasing €14.9 per cent to €789.6 million (£700.4 million) alongside gross merchandise value of its online stores rising 20.8 per cent to €217.5 million (£192.9 million).
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YNAP hits €2bn mark for the first time in 2017