Net-a-porter names Devina Foley president of its Americas business

Net-a-porter has appointed Devina Foley president of the Americas, putting the luxury e-commerce platform's U.S. strategy and operations in her hands. Foley succeeds Jeffrey Trosch and reports to Heather Kaminetsky, the retailer's chief executive officer. She is based in New York.

The appointment lands at a moment the business has been described as turning around. Kaminetsky told WWD that the U.S. is Net-a-porter's leading market, contributing 50 percent of the company's sales and standing as 'a primary engine for growth.'

Foley brings more than two decades across retail, merchandising and e-commerce to the post. Her career spans start-ups and billion-dollar companies alike, with stints leading merchandising and product at names including Camp, Rockets of Awesome and Bandier.

Earlier roles include vice president of merchandising for women's apparel at Gilt.com and a director and merchandise manager post at Old Navy. Kaminetsky said Foley 'brings an impressive breadth of experience and a proven track record of driving growth and leading businesses through transformation.'

A turnaround the new hire inherits

Net-a-porter is part of LuxExperiences, which also owns Mr Porter and Yoox. Kaminetsky splits her time between the London headquarters and New York. She framed the U.S. appointment as central to a market where the retailer is chasing 'significant scale and potential.'

The platform itself is a curated luxury shopping destination for designer clothing, accessories and beauty, and that edit is the work the new president takes on. Kaminetsky said U.S. customers 'continue to demonstrate resilience and a strong appetite for luxury.'

The chief executive described the focus as 'a seamless, high-touch experience that caters to her time-poor lifestyle,' matched with 'a mix of established brands and emerging talent.' She sees balanced potential across ready-to-wear, leather goods and jewelry, which customers increasingly style together.

Foley, asked why she joined, said there is 'so much potential to build on what the brand has established.' She pointed to particular room on the West Coast and in Canada, describing 'significant opportunities to grow our presence across the U.S.' while developing the business north of the border.

Loyal clients and first-time buyers

On the question of new customers versus bigger spend from existing ones, Foley called both 'equally important parts of Heather's strategy.' The most loyal clients, including its Extremely Important People, remain a priority, with a personal shopping team that 'develops genuine relationships.'

At the same time, she said, 'a new generation of clients' is entering, searching for a dress for a first wedding or a first job interview. 'These are big moments,' Foley said, and the goal is 'a look that creates confidence,' delivered through 'the strongest edit.'

'Service plus trust equals loyalty,' she said, a formula she returned to twice. Her framing of the market matters because it sets the terms on which the turnaround has to continue: growth in the business's largest territory rather than recovery elsewhere.

We covered the turnaround itself in detail when LuxExperiences swung to profit for its fiscal fourth quarter and full year. Net-a-porter and Mr Porter turned profitable in that period, and Michael Kliger, chief executive of LuxExperiences, the parent company of Net-a-porter, called the quarter 'really a turnaround.'

The combined Net-a-porter and Mr Porter businesses grew 5.6 percent in that fourth quarter and posted a profitable EBITDA margin of 2.7 percent. It was the first quarter of growth with profitability since LuxExperiences acquired the business.

For the full year, the two still averaged 0.5 percent sales growth and a negative 0.6 percent EBITDA margin. But the direction of travel was upward from the first half to the second, and Michael Kliger summed it up plainly: 'Net-a-porter and Mr Porter are back, growing, and profitable.'

That reversal is the foundation Foley inherits, and a U.S. that accounts for half of revenue now has a dedicated president whose entire brief is its growth.

The announcement did not say where Jeffrey Trosch goes next or give a start date for Foley. It also set out no targets for the U.S. business, beyond the stated aim of growing the West Coast and Canada.

Foley herself offered the clearest statement of intent: 'I look forward to working with Heather and the team to build on the brand's strong foundation and shape its next chapter in the U.S.' The West Coast and Canada are where she said that chapter opens.

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Image: Devina Foley Courtesy of Net-a-porter