MILAN — Internet fashion retailer Yoox Group launched an initial public offering on Monday that could raise as much as 126 million euros, or $187.9 million at current exchange.
Shareholders in the Bologna, Italy-based company, which include venture capital firms Balderton Capital, Kiwi and Nestor 2000, are selling 24.3 million shares at an indicative price per share of between 3.60 euros, or $5.37, and 4.50 euros, or $6.71, through the end of November. If demand is high enough, a further 3.65 million shares will go on sale via an overallotment option, known as a greenshoe.
Goldman, Sachs & Co. and Mediobanca are managing the placement, which values Yoox at as much as 226.8 million euros, or $338.2 million. Shares will start trading Dec. 3 on the Milan Stock Exchange STAR segment for small companies.
Yoox operates the Yoox.com and Thecorner.com online multibrand stores and develops and runs 16 e-commerce sites for brands including Emporio Armani, Diesel, Dolce & Gabbana, Jil Sander, Valentino and Roberto Cavalli, whose online store goes live later this month. Yoox also offers Web marketing services and interactive design and digital experience services.
Yoox plans to use the proceeds of the IPO to consolidate its business and accelerate growth worldwide, including expanding in Asia, company founder and chief executive officer Federico Marchetti said at a presentation here Monday. This may involve small strategic acquisitions “for a few million euros” but “we have yet to identify anything,” he added.
In the first nine months of 2009, Yoox revenues increased 48.8 percent to 106.7 million euros, or $145.8 million at average exchange. Earnings before interest, taxes, depreciation and amortization reached 7.2 million euros, or $9.8 million, from 2.7 million euros, or $4.1 million, in the same period last year.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia