MILAN — Yoox Group SpA logged another year of growth in 2014, as a sharp acceleration in the U.S. and at its monobrand channel in the fourth quarter helped drive a 15.1 percent gain in preliminary sales.
Revenues in the 12 months ended Dec. 31 rose to 524.3 million euros, or $697.3 million, compared with 455.6 million euros, or $601.4 million, in 2013. At constant exchange, sales would have risen 17.7 percent.
Sales in the fourth quarter last year climbed 16 percent to 158.1 million euros, or $197.6 million, driven by a 24.1 percent rise in sales in the U.S., and a 23.3 percent increase at the group’s monobrand channel.
Dollar figures were converted from the euro at average exchange rates for the periods to which they refer.
Founder and chief executive officer Federico Marchetti underscored the group’s growth “despite the adverse conditions that marked the whole of 2014.” Marchetti noted that “visits by smartphone and tablet exceeded the goal of 50 percent at Christmas, ahead of our schedule, thanks also to the significant contribution of the new Yoox.com native app, again confirming the key role played by the mobile channel for our customers.”
In the 12 months ended Dec. 31, the group recorded a monthly average of 15.2 million unique visitors, which translated to 3.4 million orders, an increase of 21.6 percent from 2.8 million in 2013.
In the year, the multibrand channel, which includes Yoox.com, Thecorner.com and Shoescribe.com, posted sales of 381.7 million euros, or $507.6 million, up 16.3 percent compared with the previous year, led by all three online stores. Yoox.com introduced sunglasses in 2014 and an area dedicated to fashion and lifestyle sportswear.
In the fourth quarter, the multibrand business was up 13.1 percent to 111 million euros, or $138.7 million, despite a challenging comparison with the same period in 2013 and the lower average order value due to the further depreciation of the ruble and the yen, and to the fall promotional activities, adversely affected by the record warm weather. At the end of December, the multibrand business accounted for 72.8 percent of the group’s total sales.
Yoox also sets up and manages 36 online stores for leading global fashion and luxury goods brands, from Giorgio Armani to Ermenegildo Zegna and, in 2014, this monobrand business line posted sales of 142.6 million euros, or $189.6 million, up 11.9 percent compared with the previous year.
As of Dec. 31, the group counted 37 online stores.
Italy showed a 21.5 percent increase in sales, which reached 86.1 million euros, or $114.5 million, boosted by an increase in brand awareness driven by a strong ad campaign on national television.
The rest of Europe was also up, gaining 13.7 percent. Sales in the U.S. rose 12.1 percent to 115.2 million euros, or $153.2 million.
In Japan, sales rose 7 percent, despite currency headwinds. At constant exchange, sales would have risen 15.7 percent.
Sales in other countries grew 32.1 percent, accelerating by 41.4 percent in the fourth quarter, driven by Yoox.com in China, which benefited from the extension of its offer following the introduction of the complementary logistics setup in February last year.
The group expects to close fiscal 2014 with a positive net financial position of 31 million euros, or $41.2 million, up from 20.5 million euros, or $27 million, at the end of 2013.
Full annual results will be approved by the group’s board on Feb. 25.
Yoox shares closed up 0.94 percent to 20.47 euros, or $24.88, on Wednesday.