Yoox Group H1 revenues soar 14.7 percent

REPORT_ In the first half of 2014, Yoox Group posted consolidated net revenues, net of returns and customer discounts, of 238 million euros (318.8 million

dollars), up 14.7 percent or over 18.7 percent at constant exchange rates. A positive performance was also achieved in the second quarter of the year, with net revenues moving up by 14.9 percent or above 17.7 percent at constant exchange rates.

The Group recorded a monthly average of 14.0 million unique visitors, which translated into 1.5 million orders, an increase of 22.3 percent from 1.3 million in the same period of the previous year. The number of active customers also increased to 1.2 million at 30 June 2014, compared with 1 million at 30 June 2013.

“Yoox achieved solid results for the second quarter of 2014, with growth of 18 percent in net revenues at constant exchange rates and 30 percent in EBITDA. Yoox once again proves to be one of the few e-commerce business models able to generate margins and solid growth at the same time,” said Federico Marchetti, Founder and CEO of Yoox Group.

The multi-brand business line, which includes yoox.com, thecorner.com and shoescribe.com, posted consolidated rise in net revenues at 16.9 percent or over 21.5 percent at constant exchange rates. The second quarter marked acceleration on the first three months of the year, with consolidated net revenues going up 18.6 percent or over 21.8 percent at constant exchange rates. Starting from the summer, yoox.com has introduced a new sunglasses category. Overall, at 30 June 2014, the multi-brand business line accounted for 73.1 percent of the Group’s consolidated net revenues.

The mono-brand business line includes the design, set-up and management of the online stores of some of the leading global fashion and luxury brands. This business line posted consolidated rise in net revenues of 9.3 percent or over 11.7 percent at constant exchange rates, while gross merchandise value grew by 20.7 percent or over 24.3 percent at constant exchange rates. In the second quarter of the year, net revenues came were up 5.2 percent or over 7 percent at constant exchange rates, while gross merchandise value rose by 18.2 percent or over 21.2 percent at constant exchange rates. Overall, at 30 June 2014, the Mono-brand business line accounted for 26.9 percent of the Group’s consolidated net revenues with 38 online stores.

In the first half of 2014, the Group recorded growth in all its key markets. An outstanding performance was recorded in Italy, up by 22.9 percent compared to the first half of 2013. The domestic market achieved excellent results also in the second quarter, with turnover up by 26.6 percent compared with the same period of the previous year. Results recorded by the Rest of Europe grew 14.8 percent or over 18.3 percent at constant exchange rates in the first half of 2014 and 14.2 percent or over 15.9 percent at constant exchange rates in the second quarter. The second quarter showed balanced growth across France, Germany, the UK and Russia, the four main countries that contribute to the Group’s revenues in Europe.

North America posted growth of 8.8 percent or over 13.5 percent at constant exchange rates in the first half of the year and 9.1 percent or over 14.5 percent at constant exchange rates in the second quarter. Japan recorded growth of 18.4 percent at constant exchange rates or over 5.8 percent at current exchange rates. Second-quarter results were in line with the same period of 2013 at current exchange rates, while growing by 6.9 percent at constant exchange rates. The results recorded by other countries went up by over 21.4 percent or over 25.2 percent at constant exchange rates, driven by China, which grew strongly in the first half of the year.