MILAN — Online fashion retailer Yoox Group SpA on Wednesday said preliminary consolidated net revenues in 2011 jumped almost 36 percent on the back of double-digit growth in all geographical markets and in both the company’s multibrand and mono-brand platforms.
In a statement released after the close of trading in Milan, the company — which operates Yoox.com and Thecorner.com and manages online stores for brands including Armani, Diesel and Marni — said sales for the year ended Dec. 31 reached 291.2 million euros, or $404.8 million. At constant exchange rates, revenues increased by 37 percent.
Dollar amounts have been converted at average exchange rates for the periods to which they refer.
On a business unit level, Yoox said sales in its multibrand channels increased 30 percent, to 212.8 million euros, or $295.8 million, thanks both to “the outstanding performance of Thecorner.com, which continues to post higher results than expected, and to the strong growth of Yoox.com.” The multibrand business accounts for 73 percent of group sales.
The mono-brand business, which sets up and manages online stores for leading fashion brands, saw sales rise nearly 55 percent, to 78.4 million euros, or $109 million. The company said the result was due to the “strong performance” of the 23 online stores already operational at the end of 2010 and “partly” to the seven new online stores launched during 2011: y-3store.com, brunellocucinelli.com, bikkembergs.com, dolcegabbana.com, moncler.com and, in the fourth quarter of 2011, armani.com and trussardi.com. The unit’s sales were also boosted by the extension to China of the Marni, Bally and D&G online stores and by the opening of the Diesel online store in Japan.
In geographic terms, all markets — including Italy and Europe (excluding Italy) — posted double-digit sales gains, with “other countries” posting a 170 percent increase, to 6.1 million euros, or $8.5 million. For the first time since it was founded in 2000, North America became Yoox’s main market, contributing 20.5 percent of total sales and generating 59.7 million euros, or $83 million, in revenues. Russia “continues to achieve outstanding results,” Yoox said.
The company will publish full results — including profit and final sales figures — on March 7.