WWD.com/globe-news/financial/yoox-sales-rise-21-7410844/
government-trade
government-trade

Yoox Sales Rise 21%

In the 12 months ended Dec. 31, the Italian e-tailer posted sales of 455.6 million euros, or $601.4 million.

MILAN — A marked acceleration in the fourth quarter, growth in all geographic markets and a strong contribution from the mobile channel helped Yoox SpA report a 21.2 percent increase in preliminary revenues in 2013.

 

In the 12 months ended Dec. 31, the Italian e-tailer posted sales of 455.6 million euros, or $601.4 million. This compares with 375.9 million euros, or $481.1 million in 2012. At constant exchange, sales would have risen 25 percent. In the fourth quarter, sales gained 24.1 percent to 136.3 million euros, or $185.3 million.

Dollar amounts are converted at average exchange for the periods to which they refer.

“I am personally very proud of the outstanding results achieved by Yoox.com, our first online store, which drove sales acceleration in the last quarter, and particularly in Italy,” said Federico Marchetti, founder and chief executive officer. “These performances confirm the effectiveness of the group’s business model, which relies on a broad and well-balanced geographical spread and a diversified offer in terms of price point and customer profile.”

In the year, the multibrand business line, which includes Yoox.com, Thecorner.com and Shoescribe.com, grew 25.3 percent to 328.2 million euros, or $433.2 million, and accounted for 72 percent of total sales. In the fourth quarter, sales were up 29.6 percent, driven by a sharp acceleration of Yoox.com, which marked the biggest increase in sales ever registered in absolute terms. The company attributed the performance to a significantly higher customer retention rate, a further improvement in the conversion rate and a strong holiday season.

Yoox also sets up and manages online stores for leading global fashion and luxury goods brands from Giorgio Armani to Roberto Cavalli and Ermenegildo Zegna, and this business line registered sales of 127.4 million euros, or $168.1 million, up 11.9 percent from the previous year, accounting for 28 percent of the total. With the launch of an online store for Brioni on Nov. 18, the number of monobrand online units managed by Yoox rose to 37.

North America, the group’s biggest market, saw sales rise 26.1 percent to 102.8 million euros, or $135.7 million, accounting for 22.6 percent of the total. This performance reflects the joint decision made with the OTB Group not to continue the partnership for diesel.com in the U.S. beginning Nov. 1.

In the fourth quarter, Italy posted the highest growth rate recorded by the domestic market since 2009, showing a 31.3 percent increase. “An important contribution to this year’s results came from the mobile channel, which has been growing quarter after quarter, hitting 40 percent of total traffic at the end of the year,” said Marchetti.

In the year, sales in Italy were up 20 percent to 70.9 million euros, or $93.6 million.

The Rest of Europe grew 21.4 percent in the year, lifted by the U.K. Japan showed 10.7 percent growth despite the sharp depreciation of the yen. At constant exchange, Japan gained 40 percent.

Full annual results will be released March 5.