Yoox Group Q3 revenues up 20 percent

REPORT_ The Board of Directors of Yoox examined and approved the

consolidated interim financial statements for the nine months ended 30 September 2013. In the first nine months of 2013, Yoox Group posted consolidated net revenues, net of returns and customer discounts, of 319.3 million euros (431.9 million dollars), up 20.0 percent (23.7 percent at constant exchange rates) from 266.1 million euros (359.5 million dollars) at 30 September 2012.

The multi-brand online business platforms including Yoox, Thecorner and Shoescribe posted consolidated net revenues of 230.0 million euros (310.7 million dollars), an increase of 23.5 percent compared with 186.3 million euros (252 million dollars) at 30 September 2012. Contribution to this growth came from the excellent performance of yoox.com, which continues to show an improving conversion rate. Positive results were also achieved by thecorner.com and shoescribe.com, which have benefited from the enhancement of their offer with new major brands - such as Lanvin, Bottega Veneta and Chloé - and which, since September 2013, are also the lead retail partners for ShopBazaar.com in the US. Overall, at 30 September 2013, the multi-brand business line accounted for 72.0 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 net revenue rise of 11.8 percent. In mid-September 2013, the new releases of the Moschino and Brunello Cucinelli online stores, developed from a Yoox creative concept, were launched. Overall, at 30 September 2013, the mono-brand business line accounted for 28.0 percent of the group's consolidated net revenues with 36 online stores.

The Group recorded solid performances in all its key markets, especially in North America and Italy. North America saw net revenues grow by 29.5 percent (over 33.2 percent at constant exchange rates) on the comparative period in 2012. Italy has recorded excellent performances for four consecutive quarters, driven by sales from smartphones and tablets and customers’ growing loyalty to Yoox. In the first nine months of 2013, the domestic market achieved growth of 15.1 percent ahead of the previous year. In particular, in the third quarter, net revenues rose 16.1 percent.

Rest of Europe also achieved solid results, up 19.2 percent in the first nine months of 2013. The main countries that contributed to the group’s revenues in Europe in the first nine months of the year were France, Germany, the UK and Russia, which all reported improved figures compared with the same period of the previous year. Japan also recorded positive growth in the first nine months of the year despite the sharp depreciation of the yen over the period; at constant exchange rates Japanese growth was 40.2 percent compared with the first nine months of 2012.

In light of the solid results achieved in the first nine months, Milan-based company expects the Yoox Group to achieve further sales and earnings growth in 2013. All the Group’s key markets and both business lines are expected to make a positive contribution to this growth in the final months of the year.