Mobile online boost for Yoox

Mr Federico Marchetti, CEO of Yoox, Net-a-Porter, the Milan-listed luxury e-retailer says they are expanding its roster of online brands because of demand from consumers for high-priced watches and Jewellery over digital platforms. His consumers would buy high-priced luxury items online as the group sold a watch online for £114,380 (€133,000), while two weeks ago and £68, 800 (€80,000) watch was sold via the mobile messaging service WhatsApp.

The Group, which has Richemont as its largest investor with a 24 per cent stake, has added fine jewellery houses like Cartier, Piaget and Tiffany & Co to the list of brands available online.

“Mobile access was the key to the growth strategy,  and by 2020 most of our sales will be mobile and Yoox Net-a-Porter group will be a mobile-only company”, according to Mr Marchetti.

Yoox was founded 18 years ago, by Mr Marchetti and merged with Net-a-Porter in 2015, taking the combined revenue to £1.72 €2bn in 2016, which has 3 million active customers.