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LONDON, United States — Yoox Net-a-Porter Group SpA forecast sales will increase 17 percent to 20 percent a year as it aims to boost profitability by 2020.
The operating margin should be 11 percent to 13 percent in that year, compared with 8 percent in 2015, the company said in a statement Wednesday. The sales forecast excludes currency shifts.
''We have ambitious plans to grow faster than the online luxury market by leading through mobile," Chief Executive Officer Federico Marchetti said in the statement.
Yoox combined with Richemont's Net-a-Porter in October to create the world's largest online vendor of $592 Gucci sandals and $1,950 Chloe shoulder bags. Marchetti forecast in March that revenue will grow at a high-teens pace this year. That follows a 21 percent increase in 2015, when sales reached 1.67 billion euros.
By Thomas Mulier and Andrew Roberts; editors: Matthew Boyle and Phil Serafino.
