Net-a-Porter Braced for Duties but Eyes Brexit Benefits
Online luxury retailer Yoox Net-a-Porter is preparing for the introduction of duties for importing goods to the U.K. from the European Union following the country’s vote to leave the bloc. “The potential risk has been taken into account starting from 2018,” YNAP Chief Financial Officer Enrico Cavatorta told reporters Wednesday before a presentation to investors in London. “We don’t know how the negotiations between the U.K. and the EU authorities will end up.” The risk of import duties highlights another potential hurdle for companies already grappling with slowing demand and growing economic uncertainty. Chief Executive Officer Federico Marchetti discusses with Bloomberg's Francine Lacqua on "The Pulse."