Yoox Net-a-Porter Group (YNAP) said its sales are set to grow as much as 20 percent each year through 2020.
The luxury company on Wednesday unveiled a bold business plan to grow market share globally by focusing on three key areas: mobile; introducing fine jewelry, watches and more private labels to its offering; and honing in on the U.S., the Middle East and China.
As such it expects operating profit margin will increase by 11 to 13 percent by 2020, up from 8 percent in 2015.
“We have ambitious plans to grow faster than the online luxury market by leading through mobile. I am confident that by 2020 we will not only reflect on five years of strong growth in revenues and profitability but we will also have positioned YNAP technologically at the forefront of innovation for the following decade,” Federico Marchetti, chief executive officer, said.
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