Sales at Net–A-Porter, the online fashion retailer, have climbed by almost a quarter but the company is still losing almost £10m a year.The introduction of beauty products on the site, and a push into Asia and Australia, helped the retailer to woo new customers. Sales climbed 23% to £533.7m in 2013, according to the latest accounts, while losses narrowed from £10.3m to £9.7m.
The retailer has been investing heavily, launching the Mr Porter website for fashion-conscious men and Porter, a high-end fashion magazine, as well as a social network.
The retailer, which was bought by the luxury goods house Richemont in 2010 for £350m, is expected to announce a successor to Mark Sebba, who retired in July after 11 years as chief executive. Natalie Massenet, the founder, who netted close to £50m from the sale, remains chairwoman.