Net-a-Porter has appointed Devina Foley president, Americas, charging her with leading the luxury e-tailer's U.S. strategy and operations in a market that CEO Heather Kaminetsky says represents 50 percent of the company's business and remains its primary growth engine.

Foley, based in New York, succeeds Jeffrey Trosch and reports to Kaminetsky, who splits her time between the company's London headquarters and New York. The appointment signals where the Richemont-era platform now sees its margin and volume opportunity: doubling down on North America rather than diversifying away from it.

The hire lands on the back of a tentative financial recovery. LuxExperiences, Net-a-Porter's parent company, reported last month that Net-a-Porter and Mr Porter combined grew 5.6 percent in the fourth quarter with a positive EBITDA margin of 2.7 percent — the first quarter since the acquisition to post both growth and profitability.

Full-year 2024 numbers were flatter: 0.5 percent sales growth and a minus 0.6 percent EBITDA margin, with improvement building from the first half into the second.

Who is Devina Foley?

Foley brings more than 20 years across retail, merchandising and e-commerce, with stints leading teams through transformation at both start-ups and billion-dollar businesses. Her track record:

• Chief merchandising and product officer, Camp
• Chief product officer, Rockets of Awesome
• Chief merchandising officer, Bandier
• Vice president of merchandising, women's apparel, Gilt.com
• Director/merchandise manager, Old Navy

That mix of luxury-adjacent digital retail and scaled mass merchandising points to the dual mandate in the role: defend the high-value EIP client base while opening new, younger acquisition funnels.

Kaminetsky said: "Devina brings an impressive breadth of experience and a proven track record of driving growth and leading businesses through transformation. Her leadership and expertise will be invaluable as we continue to strengthen and grow Net-a-Porter's business in the U.S."

Where does the U.S. growth come from?

Geography is one lever. Foley flagged the West Coast as underpenetrated and Canada as a development market. Category mix is another. Kaminetsky sees "balanced potential across ready-to-wear, leather goods, and jewelry, as our customers are increasingly interested in styling these categories together for a curated, complete look."

On the acquisition-versus-retention question, Foley framed both as equal parts of Kaminetsky's strategy. Retention runs through the personal shopping team and the EIP program — "Extremely Important People" — where relationships and service build loyalty. Acquisition targets a younger cohort hitting first purchase milestones.

"They may be searching for a dress for the first wedding they have been invited to, or a first job interview," Foley said. "These are big moments, and getting them into a look that creates confidence is our goal. By delivering the strongest edit, we allow them to find that perfect outfit, work through their anxiety and emerge confidently."

Foley said: "I am thrilled to join Net-a-Porter, a brand that has long been at the forefront of luxury fashion and innovation. 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."

Does the turnaround hold?

Kaminetsky said U.S. customers continue to show resilience and a strong appetite for luxury, with the company's focus on a seamless, high-touch experience for time-poor shoppers balancing established brands and emerging talent.

The proof point remains Q4's 5.6 percent growth and 2.7 percent EBITDA margin. As LuxExperiences CEO Michael Kliger put it: "Net-a-Porter and Mr Porter are back, growing, and profitable." Foley's mandate is to extend that momentum across the retailer's largest market.