YOOX Group is planning an initial public stock offering on the Milan Stock Exchange in the first half of next year.
The online apparel and accessories retailer has retained Italian investment banker Eidos Partners as financial advisor to manage the IPO.
YOOX’s majority owners are three financial investors, with 58.2% ownership, founder Federico Marchetti (8.1%), the management team through stock options (21.7%) and a further 30 private investors (12%).
Established in 2000 by CEO Federico Marchetti, YOOX Group operates in 53 countries and receives nearly four million visitors a month to its online stores. In 2007 the company delivered more than 1 million items to customers across the world and reported web sales of $121.7 million. YOOX is No. 110 in the Internet Retailer Top 500 Guide .
Its roots as a multibrand Internet retailer led to the formation in 2006 of YOOX Services, a division that develops and runs single-brand flagship online stores on behalf of leading fashion brands. Client sites include EmporioArmani.com, StoneIsland.com and Valentino.com.
Italy is still YOOX’s most important single market with about 30% of sales, but its logistical network created across Europe, the USA and Japan is increasingly creating value for the broad luxury goods industry, and helping to export fashion “Made in Italy,” the company says.
Heading into the IPO, YOOX Group plans to continue investing in reinforcing and updating its e-commerce platform and scale, and identifying and reaching into new markets, the company says.
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