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MILAN — Net profit at Yoox Group increased 72.7 percent to 1.2 million euros, or $1.5 million, in the three months ended Sept. 30, compared with 700,000 euros, or $987,000, in the same period last year.
This story first appeared in the November 8, 2012 issue of WWD. Subscribe Today.
Revenues at the Italian e-tailer climbed 27.4 percent to 93.2 million euros, or $116.5 million.
Sales grew globally and, in particular, Italy returned positive, showing a 0.3 percent gain, compared with a 6 percent drop in the second quarter of the year.
Earnings before interest, taxes, depreciation and amortization gained 55 percent to 6.1 million euros, or $7.6 million.
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Yoox said it was “reasonable to expect” an increase in revenues and improved profitability in the fourth quarter, likely lifted by both the group’s multibrand and monobrand businesses. Ever-growing international markets are forecast to help drive the gains. The group said it plans to continue to invest in the development and consolidation of its multichannel technology and its operations and distribution platform in Bologna, while improving efficiency and ensuring tight cost control.
In addition to its own multibrand stores Yoox.com, Thecorner.com and shoeScribe.com, Yoox manages online stores for groups including Giorgio Armani, Marni, Valentino and Ermenegildo Zegna.
In September, Yoox unveiled the new Sergio Rossi online store, the first to be developed by the joint venture with PPR set up in August to manage the e-commerce operations of several of PPR’s luxury brands. By the end of 2013, sergiorossi.com will also be available in China.
In September, the Moncler online store was extended to the Chinese market.
To further develop business in China, which the group entered with the monobrand business lines in 2010 and the launch of the multibrand online store Thecorner.com in 2011, last month Yoox.com was unveiled in China.