E-retailer YOOX extending its global presence

Fashion e-retailer YOOX SpA this week announced it has expanded its e-commerce platform to enable online sales on an even bigger global scale, a scale that includes countries on five of the seven continents. YOOX now serves customers in more than 50 countries; its latest additions are Russia and Korea.

The company’s results to date confirm its enormous potential, and YOOX will continue to grow at a pace of around 50% a year, predicts founder and CEO Federico Marchetti. The company is No. 122 in the Internet Retailer Top 400 Guide to Retail Web Sites.

Worldwide gross revenue in 2005 grew 47% to $63 million compared with $42.9 million in 2004. U.S. net sales in 2005 grew 43% to $13.8 million compared with $9.1 million in 2004. The U.S. site receives 2.7 million monthly visits from 2.2 million unique visitors.

This year the company has its eyes set on growth in the U.S. and Japan and expansion of its merchandise offerings with more designer products and new entertainment items. YOOX is opening offices in New York and by early next year will open offices in Tokyo.