Most Recent Articles In Financial
Latest Financial Articles
- Asian Markets Recuperating After Brexit Sell-Off
- China Slashes Yuan Rate, Heading for Five-Year Low
- Investors on Edge After Brexit Vote
More Articles By
MILAN — Yoox Group on Wednesday reported preliminary 2012 net revenues of 375.9 million euros, or $508.6 million, with 29 percent growth over 2011.
This story first appeared in the February 7, 2013 issue of WWD. Subscribe Today.
For the first time in Yoox’s history, net revenues in the fourth quarter of 2012 exceeded 100 million euros, or $135 million.
Yoox founder and chief executive officer Federico Marchetti said that cultivating the group’s monobrand business, which includes the set-up and management of online stores for leading global fashion and luxury brands, was a strategic factor.
Marchetti said that “2012 was a particularly important year for Yoox. On the one hand, our multibrand business line continued along its path of sustained growth, while on the other, we further consolidated the foundations for the group’s long-term growth in the monobrand business line.”
Yoox’s monobrand business soared to 113.9 million euros, or $153.8 million, in 2012, up 45.3 percent over 2011. Monobrand represented 30.3 percent of the group’s net revenues in 2012, compared to 26.9 percent in 2011.
The company’s better-established multibrand business experienced slower double-digit growth of 23.1 percent, with 2012 net revenues totaling 262 million euros, or $353.7 million. Its multibrand business includes Yoox.com, Thecorner.com and Shoescribe.com.
Marchetti added that early investment in smartphones and tablets is paying off as traffic through mobile channels gathers steam.
“In the Christmas month alone, visits from these channels accounted for around 25 percent of total traffic,” Marchetti said.
The United States was the company’s number-one market, according to Marchetti. North America accounted for 21.7 percent of the group’s 2012 net sales, whereas Europe, excluding Italy, accounted for 47.9 percent.
Yoox’s home turf proved to be its most difficult market. Despite a 12 percent upturn in the fourth quarter, thanks to a successful Christmas campaign and new e-commerce consumers, net sales in Italy grew just 2.4 percent in 2012.