E-retail has grown more than 50% so far this year for the department store chain. Belk plans to spend $32 million on the project.
Total sales grow 36% for Yoox in 2011
Sales for North America grew 42%.
Online apparel retailer Yoox SpA is European by birth, but it was the company’s international diversity that was the key to growing sales in 2011.
For the year ended Dec. 31, Yoox, No. 67 in the Internet Retailer Top 500 Guide, reported:
- Total sales of 291.2 million euros ($387 million), a 35.9% increase from 214.3 million euros ($284.8 million) in the prior year quarter. That figure includes revenue from Yoox.com and TheCorner.com and the company’s e-commerce services business.
- Sales for its Yoox.com and TheCorner.com, which Yoox calls multi-brand sales, increased year over year 29.6% to 212.2 million euros ($282.7 million) from 163.7 million euros ($217.5 million).
- Sales for e-commerce services business, which Yoox calls mono-brand sales, increased year over year 54.9% to 78.4 million euros ($104.2 million) from 50.6 million euros ($67.2 million).
- Revenue for North America in 2011 reached 59.7 million euros ($79.3 million), an increase of 41.5% from 42.2 million euros in 2010 ($56.1 million).
- Sales for Europe, excluding Italy, Yoox’s home country, grew year over year 37.5% to 141.6 million euros ($188.2 million) from 103 million euros ($136.9 million).
- Sales for Italy grew 17.3% to 57.7 million euros ($76.7 million) from 49.2 million euros in 2010 ($65.4 million).
Yoox did not break out fourth quarter numbers or any data on annual net income in its preliminary results for 2011. The retailer will release full year-end numbers on March 7.
TheCorner.com sells on-trend fashions and accessories for men and women. Yoox operates third-party e-commerce services through its mono-brand division. It provides retailers and manufacturers with e-commerce platform management and support, order and content management, merchandising, marketing, and fulfillment services. Yoox provides some or all such services to DolceGabbana.com, Dsquared2.com, JilSander.com and RobertoCavalli.com.