Yoox.com reports 15.1 percent rise in FY14 revenues

The Board of Directors of Yoox, in its preliminary results for the year ending December 31, 2014 said that in 2014, the Group recorded consolidated net revenues, net of returns and customer discounts, of 524.3 million euros (598.5 million dollars), up 15.1 percent or over 17.7 percent at constant exchange rates from 455.6 million euros (519.9 million dollars) at December 31, 2013.

The company reported 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. The Average Order Value (AOV) excluding VAT came in at 205 euros (233.9 dollars) at constant exchange rates and 202 euros (230.6 dollars) at current exchange rates. The number of active customers also increased to 1.3 million compared with 1.1 million last year.

A positive performance was achieved in the fourth quarter of the year, with net revenues up 16 percent or over 17.2 percent at constant exchange rates. The multi-brand business line, which includes yoox.com, thecorner.com and shoescribe.com consolidated net revenues increased 16.3 percent or over 19.7 percent at constant exchange rates owing to the positive results of all three online stores. During the year, yoox.com achieved double-digit net revenue growth, and has seen a further enhancement of its offer with the introduction of the sunglasses category and the area dedicated to fashion and lifestyle sportswear.

Shoescribe.com registered an outstanding performance, which benefited from the ongoing enrichment of its portfolio during the year, including the debut of Dolce & Gabbana in December. Positive results were also achieved by thecorner.com, which continued to extend its offering in 2014, with the addition of important fashion brands such as Burberry and Moschino.

In the fourth quarter of 2014, the multi-brand business line net revenues were up 13.1 percent or over 15.7 percent at constant exchange rates. Overall, at December 31, 2014, the multi-brand business line accounted for 72.8 percent of the Group’s consolidated net revenues.

In 2014, the mono-brand business line reported revenue rise of 11.9 percent. Growth in the mono-brand business line was 17.7 percent, excluding the impact of the smaller business perimeter, compared with the previous year. The gross merchandise value (GMV) grew by 19.2 percent and by 24.9 percent. An excellent performance was recorded in the fourth quarter, with consolidated net revenues of the mono-brand business line increasing 23.3 percent and accelerating sharply on the first nine months of the year. The gross merchandise value (GMV) grew by 25.3 percent. Overall, the mono-brand business accounted for 27.2 percent of the Group’s consolidated net revenues with 37 online stores.

The Group recorded growth in all its key markets. Excellent results were recorded by Italy, with net revenues rising 21.5 percent compared to 2013. The rest of Europe also recorded solid results, with growth of 13.7 percent in 2014 or over 17.7 percent at constant exchange rates and 12.3 percent in the fourth quarter (over 18.4 percent at constant exchange rates). The performance of the last three months of the year reflects a softer growth of the Russian market - due to the sharp further depreciation of the currency and acceleration in net revenue of the other main European markets, including France, Germany and the UK.

In 2014, North America achieved a 12.1 percent growth of net revenues at current and constant exchange rates. Excluding the impact of the smaller business perimeter10 compared with the same period of the previous year, North America posted growth of 26 percent in the fourth quarter. In Japan, the Group recorded a net revenue increase of 7 percent, despite the extremely adverse currency movements for the entire period. In the fourth quarter, growth was of 1.2 percent or over 5.3 percent at constant exchange rates.

Lastly, the outstanding performance of Other countries continued, with an increase of 32.1 percent in 2014 or over 32.2 percent at constant exchange rates, driven by yoox.com in China, which benefited from the extension of its offer following the introduction of the complementary logistics set-up in February 2014. Net financial position The Group expects to close the fiscal year 2014 with a positive net financial position of 31 million euros (35.5 million dollars), up from 20.5 million euros (23.4 million dollars) at the end of 2013.