Yoox rose 30.5% in Q1

In the first quarter of 2012, the Yoox Group posted consolidated net revenues of euro

91.0 million. This is an increase of 30.5% compared with euro 69.7 million at 31 March 2011. Overall, the multi-brand business line accounted for 70.2% of the group’s consolidated net revenues.

The mono-brand business line includes the set-up and management of online stores of some leading global fashion brands. Products available in the online stores are sold and invoiced directly to end customers by the Yoox Group. This business line posted consolidated net revenues of euro 27.1 million, up 61.4% from euro 16.8 million at 31 March 2011. The growth in the mono-brand business line is partly due to the strong performance of the 30 online stores that were already active at 31 December 2011, and partly due to the two new online stores launched during the first quarter of 2012: barbarabui.com and pringlescotland.com. The dsquared2.com online store in China was also added on 5 March 2012. Overall, at 31 March 2012, the mono-brand business line accounted for 29.8% of the group's consolidated net revenues with 32 online stores.

All key markets contributed to the group’s growth, compared with the first quarter of 2011, particularly the international markets, which, at 31 March 2012, accounted for approximately 83.5 percent of total net revenues. Notably, North America was again confirmed as the group’s no. 1 market, with net revenues of euro 19.7 million, contributing 21.6% of consolidated turnover, and growth of 47.7% (+41.5% at constant exchange rates). Japan put in an excellent performance, with net revenues 75.3% ahead of the previous year (+61.8% at constant exchange rates), while other countries continued to record sustained growth (+205.3% compared with the first quarter of 2011). The Italian market registered net revenues of euro 15 million, up 1.7%; Rest of Europe also posted good results, with growth of 25.7%. The main countries that contributed to the group’s revenues in Europe in the first quarter of 2012 were France, Germany and the UK, which all reported improved figures compared with the first quarter of 2011, and Russia, which continues to achieve outstanding results.

In the first quarter of 2012, Ebitda pre corporate costs came in at euro 12.3 million, from euro 10.5 million at 31 March 2011, with a margin on net revenues of 13.6% compared with 15% at 31 March 2011. Ebitda pre corporate costs in the multi-brand business line recorded growth of 4.1%, with a margin on net revenues of 12.5% compared with 14.5% in the first quarter of 2011. Ebitda pre corporate costs in the mono-brand business line grew by 55.4%, with a margin of 16.1%, compared with 16.7% at 31 March 2011. Consolidated net income came in at euro 1.2 million compared with euro 1.7 million at 31 March2011.

The Yoox Group is the global internet retailing partner for leading fashion and design brands. It has online stores like yoox.com, thecorner.com and shoescribe.com. It also has numerous mono-brand online stores, such as zegna.com, armani.com and diesel.com. The group has offices and operations in Europe, the United States, Japan, China and Hong Kong and delivers to more than 100 countries worldwide.