MILAN — Despite market headwinds on a number of fronts, Yoox SpA saw 2014 net revenues rise 15.1 percent over 2013 to 524.3 million euros, or $596 million at current exchange rates. Net revenues for the group, which is quoted on the Milan Stock Exchange, climbed even higher at constant exchange rates, by 17.7 percent.
The figures were identical to preliminary figures Yoox reported earlier this month.
“Despite the many unfavorable conditions affecting the whole of 2014, Yoox exceeded the 500 million euro net revenue threshold and registered EBITDA and net income growth,” commented Federico Marchetti, founder and chief executive officer of Yoox.
Net profits rose 9.4 percent last year to 13.8 million euros, or $15.7 million. EBITDA rose 13.4 percent, from 43.1 million euros in 2013, or $49 million, to 48.8 million euros in 2014, or $55.5 million.
“This performance once again demonstrates the solidity of our business model and the great value of our team,” Marchetti said.
The multibrand business — which consists of e-tailers Yoox.com, Thecorner.com and Shoescribe.com — accounted for 72.8 percent of the group’s consolidated net revenues. But the group’s monobrand business, which operates the e-commerce sites of major luxury retailers, gained ground and picked up speed, especially in the fourth quarter, when it posted net revenue growth of 23.3 percent compared with the same period in 2013.
Net revenues also accelerated sharply in the fourth quarter in the group’s largest market, North America. They soared 24.1 percent in the October-December period, boosting annual net revenue growth for 2014 in North America to 12.1 percent.
Yoox reported growth in all of its key markets. Net sales in its native Italy grew by 21.5 percent to 86.1 million euros, or $97.9 million, despite the country’s chronically troubled economy. Net revenues rose 13.7 percent in the rest of Europe — a figure weighed down by Russia, which was hit by the dramatic devaluation of the ruble. In Japan, Yoox reported a net revenue increase of 7 percent despite highly unfavorable currency movements and posted a 15.7 percent increase at constant exchange rates.
Mobile visits in the Christmas period set a new record, exceeding 50 percent. They were helped by a new app for smartphones with iOS and Android operating systems launched in October.
The Lanvin online store will open Thursday in Europe, the U.S. and the main countries of the Asia-Pacific region, the group said. Also this month, a partnership was renewed with Aeffe Retail SpA to manage the albertaferretti.com online store in the U.S., Europe and Japan until 2020. Meanwhile, Staff International SpA signed up for another five years with Yoox for the monobrand online stores of Maison Margiela and Just Cavalli.
Staff International is part of the OTB Group, which is chaired by Yoox’s second-largest shareholder, entrepreneur Renzo Rosso, who founded Diesel.