Yoox Group net revenues rise 21.2 percent in 2013

REPORT_ In 2013, the company posted consolidated net revenues, net of returns and customer discounts, of 455.6 million euros (625.4 million dollars), up 21.2 percent. A positive performance was achieved in the fourth quarter of the year, which showed a marked acceleration on the

first nine months of 2013, with net revenues up 24.1 percent or over 28.4 percent at constant exchange rates.

“In 2013, Yoox once again confirmed to be a high-growth company, with net revenues up 25 percent at constant exchange rates. Yoox also exceeded the 10 percent EBITDA margin threshold, which together with strong cash flow generation, makes it one of a kind in the global e-commerce realm,” commented Federico Marchetti, Founder and CEO of the Yoox Group.

Milan-based multi-brand business line, which includes yoox.com, thecorner.com and shoescribe.com, posted consolidated net revenues of 328.2 million euros (450.5 million dollars), up 25.3 percent compared with 2012 figures. In the fourth quarter of 2013, net revenues grew by 29.6 percent. The offer of the Multi-brand business line was further enriched during the year: specifically, new brands were introduced on yoox.com, such as Fendi, and the kids’ area was strengthened with the launch of Kenzo Kids, Little Marc Jacobs, Paul Smith Junior and Stella McCartney Kids.

Thecorner.com and shoescribe.com saw the addition of major brands such as Bottega Veneta, Chloé, Emilio Pucci, Marc Jacobs, Michael Kors, Salvatore Ferragamo and Tory Burch. 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 revenues rise of 11.9 percent, while gross merchandise value grew by 27.5 percent. In the fourth quarter of the year, net revenues were up 11.9 percent ahead of the previous year, while gross merchandise value was up 31.8 percent. Overall, at 31 December 2013, the mono-brand business line accounted for 28 percent of the group’s consolidated net revenues with 37 online stores.

In 2013, the group recorded solid performances in all its key markets. North American market saw net revenues grow by 26.1 percent or over 30.3 percent at constant exchange rates in 2013. In the fourth quarter, the region’s net revenues were up 18.3 percent. An excellent performance was recorded in the fourth quarter in Italy, which experienced a marked acceleration compared with the first nine months with net revenues growing by 31.3 percent, the highest rate recorded by the domestic market since 2009. The strong performance of the fourth quarter resulted in an annual turnover in Italy going up 20.0 percent compared with the previous year.

The Rest of Europe also posted growth of 21.4 percent in the year, accelerating further in the fourth quarter to above 26.8 percent. Japan recorded positive growth at current exchange rates of over 10.7 percent in the year and over 7.4 percent in the fourth quarter compared with the same periods of 2012. At constant exchange rates, Japan grew by 40 percent over the year, and by 39.6 percent in the last quarter. Other countries also posted positive performances with over 49.4 percent growth.

In light of the proven effectiveness of the Yoox business model worldwide and the positive outlook for the online retail market, company expects that the Yoox Group will continue to see growth in sales and profits in 2014. All of the group’s key markets and both business lines are expected to positively contribute to this growth.