11 Mar. 2011
YOOX GROUP GROWS BY 40%Yoox Group, global internet retailing partner for top-end fashion and design brands, has announced its 2010 financial results. It registered a €214.3 million turnover and a 40.8% increase compared to 2010 (closed with €152.2 million). The EBITDA reached €18.8 million (+25% more than the €15 million registered in 2009) and the net income was €9.1 million (+122.5% compared to €4.1 million registered in 2009).
Other key performance indicators follow the group's constant growth. In 2010, Yoox registered 8.6 million visitors (+33.4% compared to €6.4 million in 2009), 1,523 thousand orders (1,148 thousands in 2009) and an average order value of €179 (€170 in 2009, +5.4%).
Yoox is available in 67 countries worldwide. The major markets are Italy (23%), the group's country of origin, rest of Europe (48.1%), and North America (19.7%). The main aims of the company are to get the US market become the group's second market, and a further increase in China.
The group was founded in 2000 by CEO, Federico Marchetti, and has established itself amongst the market leaders with the multi-brand stores yoox.com and thecorner.com as well as with numerous monobrand stores, all “powered by YOOX Group.” The group has offices and operations in the United States, Europe, Japan, Russia (established in September 2010) and China (where they opened the first Emporio Armani online store in November 2010).
In 2010, the group opened seven new online stores for Coccinelle, Giuseppe Zanotti Design, Napapijri, Alberta Ferretti, Zeis House, Maison Martin Margiela and C'N'C. Moreover, the company aims at opening about six to seven monobrand stores every year in order to grow from the present 25 monobrand stores to a total of 50 online stores by 2015. Among the brands that already have opened their monobrand stores, there are Giorgio Armani, Emporio Armani, Diesel, C.P. Company, Miss Sixty, Energie, Stone Island, D&G, DSquared, Jil Sander, Just Cavalli and Roberto Cavalli, Zegna Group, and Y-3.
When asked about a possibility of being acquired or acquiring, Federico Marchetti commented: "We were the first ones to start establishing our logistic bases on the internet for selling in-season fashion - and fashion only, a segment we know deeply and thoroughly. One thing is shipping products to 150 countries, one thing is working with countries where you establish a strategy in order to be local and work like, for instance a Japanese player working with Japan and from Japan. We have created our own technology and didn't work with other's software. Moreover, we are constantly keeping it updated in order to work with most different mobile tools including, iPhone, iPad, Android and similar...We have our own plans and feel among the three top players. For this, we think we are more following an acquiring mentality rather than being acquired."
Maria Cristina Pavarini
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