In its second-largest acquisition, Amazon buys the company for $970 million.
Revenue for North America reached $34.31 million up from $31.56 million in Q1 2013.
Yoox Group, an Italian apparel and accessories retailer that sells online and operates e-commerce sites for other brands, posted a 14.6% increases in sales for Q1 2014, with 84% of its revenue coming from outside Italy. The retailer’s Q1 sales totaled 126.5 million euros (US $174.38 million), compared with 110.4 million euros (US $152.19 million) a year earlier.
For the first quarter of 2014 Yoox, No. 80 in Internet Retailer’s 2013 Europe 500 Guide, reported:
- Total sales of 126.5 million euros (US $174.38 million), compared with 110.4 million euros (US $152.19 million) a year earlier. That figure includes sales from online retail sites Yoox.com, TheCorner.com and Shoescribe.com, as well as the company's e-commerce services business.
- Online sales for Yoox.com, TheCorner.com and Shoescribe.com, which Yoox calls its multi-brand business, increased 15.3% to 91.1 million euros ($125.54 million) from 79.0 million euros (US $108.86 million). The multi-brand business line represented 72.0% of the company’s Q1 total revenue; by comparison, the multi-brand business line accounted for 71.6% of total revenue in Q1 2013.
- Commercial web services revenue of 35.4 million euros ($48.78 million), a 12.7% increase from 31.4 million euros ($43.27 million). These services, which Yoox calls its mono-brand business, include e-commerce platform management and support, order and content management, merchandising, marketing, and fulfillment services. Yoox runs many online stores under this model, including those for apparel brands Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga and Brioni.
- Revenue for North America reached 24.9 million euros ($34.31 million), up by 8.7% from 22.9 million euros ($31.56 million).
- Sales for Europe, excluding Yoox’s home country of Italy, were 62.2 million euros ($85.71 million), a 15.2% increase from 54.0 million euros ($74.41 million).
- Sales in Italy grew about 19.7% to 20.0 million euros ($27.56 million) from 16.7 million euros ($23.01 million).
- Japan revenue was 10.7 million euros ($14.74 million), up by 10.3% from 9.7 million euros ($13.37 million) in the same quarter a year earlier.
- Total revenue for “other countries,” including China, of 6.6 million euros ($9.1 million), an increase of about 24.5% from 5.3 million euros ($7.3 million).
“I am particularly pleased with Italy’s performance, which saw a 20% growth with a share of smartphone and tablet sales 19% higher than in the rest of the world, and with China, where yoox.cn is showing a strong acceleration in revenue growth due to the recent extension of the range of brands,” says Federico Marchetti, founder and CEO.