Retailers shift their ad spending from TV, radio and print ads to digital ads.
Preliminary full-year earnings show the international apparel retailer’s total sales rose by almost 41%.
International online apparel retailer Yoox Group reported heady sales growth across the board in its preliminary 2010 financial report.
For the fiscal year ended Dec. 31, Yoox reported the following preliminary results (in U.S. dollars):
- Online retail sales, which include Yoox.com and TheCorner.com, were 163.7 million euros (US$222.5 million), a 31.8% increase from 124.2 million euros (US$168.8 million) in the prior year.
- Third-party web services sales were 50.6 million euros (US$68.8 million), up by about 80.1% from 28.1 million euros (US$38.2 million).
- Total revenue was 214.3 million euros (US$291.3 million), up by 40.8% from 152.2 million euros (US$206.9 million).
- Sales in Italy increased year over year about 23.6% to 49.2 million euros (US$66.9 million) from 39.8 million euros (US$54.1 million) in 2009.
- Sales to the rest of Europe grew 38.4% to 103.0 million euros (US$140.0 million) from 74.4 million euros (US$101.1 million).
- North American sales increased about 64.2% to 42.2 million euros (US$57.4 million) from 25.7 million euros (US$34.9 million).
- Sales in Japan increased year over year about 52.2% to 13.4 million euros (US$18.2 million) from 8.8 million euros (US$11.9 million).
Yoox Group did not release fourth quarter results.
Online retail sales were from Yoox.com and TheCorner.com, the company’s apparel and accessories web sites. Final 2010 results are scheduled for release on March 9, the company says.
In addition to its e-retailing business, Yoox operates third-party e-commerce services through Yoox Services. 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 Bally.com, Moschino.com, DolceGabbana.com, Dsquared2.com, JilSander.com and RobertoCavalli.com.