MILAN — Boosted by growth across all geographical markets and the launch of an additional six online stores, Italian Internet fashion retailer Yoox SpA said revenues in 2009 jumped 50 percent to 152.2 million euros, or $211.5 million at average exchange rates.
This story first appeared in the February 9, 2010 issue of WWD. Subscribe Today.
The Bologna-based Yoox controls multibrand stores Yoox.com and Thecorner.com, which reported a 44 percent rise in sales to 124.2 million euros, or $172.6 million, accounting for 81.6 percent of total revenues in the fiscal year ended Dec. 31.
Yoox also manages online stores for 16 fashion brands, which registered sales of 28.1 million euros, or $39 million, up 81.7 percent compared with the previous year. Online stores launched last year include ones for Bally, Moschino, Dolce & Gabbana, Dsquared, Jil Sander and Roberto Cavalli.
“These results are in line with our expectations,” Federico Marchetti, president and chief executive officer, told WWD. “We forecast a strong growth for the period.”
Yoox showed a positive performance globally. In particular, sales in Italy rose 37 percent, while revenues in the rest of Europe grew 50.3 percent, bolstered by brisk business in France, Germany and the U.K. The U.S. posted a 57.4 percent uptick. “We have been focusing on the U.S., which is quickly becoming our second market after Italy,” said Marchetti.
Yoox entered the North American market about six years ago, and Marchetti said the company has been “consolidating its presence” and building a strong organization there, also appointing a country manager in August to better penetrate the market.
Sales in Japan rose 90.5 percent, benefitting from the local structure built there in the second half of 2008.
Shares closed Monday up 0.38 percent at 5.30 euros, or $7.24 at current exchange rate.
Yoox’ 2009 full financial figures, including profits, will be released on March 11.