Richemont Group online distributors sales 2019-2022

The Swiss luxury conglomerate Richemont Group owns an impressive portfolio of jewelry Maisons and luxury watchmakers, including Cartier, Van Cleef & Arpels, Vacheron Constantin, Roger Dubuis, and A. Lange & Söhne. In FY2022, about 18 percent of Richemont’s sales was generated through the online channel. The group’s online distributors Yoox Net-a-Porter (YNAP) and Watchfinder were responsible for most of Richemont’s online sales, together generating about 2.79 billion euros that year.

Yoox Net-a-Porter

Yoox Net-a-Porter (YNAP) is an Italian online store for luxury goods, born out of the Yoox and Net-a-Porter merger that took place in 2015. YNAP was later acquired by Richemont Group in 2018 and now represents the Swiss-based luxury group’s key online business. In 2020, the e-commerce platforms of Yoox and Net-a-Porter were among the five most popular luxury shopping apps in the United States in terms of monthly active user growth.

E-commerce in luxury goods

Richemont is one of the leading luxury groups honing on online channels for the sale of luxury goods. An industry that has relied heavily on exclusive retail experiences in physical stores and clienteling, luxury goods are expected to raise the stakes in online selling, and Richemont group’s investment in luxury e-commerce platforms shows that the group believes in a digital future. By 2025, it is estimated that e-commerce will make up a quarter of personal luxury goods sales worldwide.