Yoox Group Q1 net revenues up 16.4 percent

In the first quarter of 2015, the Yoox Group recorded a monthly average of 18.8 million unique visitors, up 26.7 percent compared with the first quarter of 2014, which translated into 984 thousand orders, increasing by 16.9 percent with an AOV excluding VAT of 198 euros (223 dollars). The number of active customers also increased to 1.3 million at March 31, 2015, up 14.5 percent. Consolidated net revenues, net of returns and customer discounts of 147.2 million euros (165.7 million dollars), up 16.4 percent or 13.6 percent at constant exchange rates.

The multi-brand business line, which includes yoox.com, thecorner.com and shoescribe.com, posted consolidated net revenue rise of 15.5 percent. At March 31, 2015, the multi-brand business line accounted for 71.5 percent of the Group’s consolidated net revenues. The Mono-brand business line includes the design, set-up and management of the online flagship stores of some of the leading global fashion and luxury brands. This business line achieved consolidated net revenue increase of 18.6 percent, while the GMV grew by 27.4 percent.

The result of this business line, benefitted from the strong appreciation of the Dollar against the Euro and the solid performance of both the joint venture with Kering. In February 2015, the Lanvin online store was launched in Europe, the United States and Japan and was subsequently extended to the Chinese market in March. Overall, the mono-brand business line accounted for 28.5 percent of the Group’s consolidated net revenues with 38 online flagship stores.

The Group recorded growth in all its key markets. Excellent performance was recorded in North America, which achieved net revenue rise of 43 percent or 17.6 percent at constant exchange rates. This result reflects both the positive organic performance of the United States, and the favourable movements of the Euro/Dollar exchange rate. In Italy, net revenues rose 10.8 percent. Results from Europe excluding Italy were also positive, with net revenues up 7.8 percent at current exchange rates and 15.5 percent at constant exchange rates, although the performance of Russia was impacted by the sharp depreciation of the Rouble.

In Japan, the Group recorded an increase in net revenues of 5.9 percent or 0.9 percent at constant exchange rates. Finally, in other countries net revenue growth was 51.9 percent or 30.2 percent at constant exchange rates, due to the excellent results of yoox.com in China and Hong Kong.

On May 8, 2015, Richemont International and Yoox signed a five-year global partnership for the set-up and management of the Chloé and Alfred Dunhill online flagship stores. Also Karl Lagerfeld Retail signed a six-year agreement for the set-up and management of the Karl Lagerfeld online flagship store in Europe, the United States and Japan. In addition, on April 14, 2015, the online flagship store dedicated to McQ, Alexander McQueen's contemporary line, was launched in Europe, the United States and in the main countries of the Asia-Pacific region, including China. This brings the number of online flagship stores managed by the joint venture with Kering to eight. On April 24, 2015, the Board of Directors of Yoox appointed Enrico Cavatorta as Chief Financial and Corporate Officer.