The move follows similar programs from Target and Amazon.
Yoox’s local approach to global e-tail pays off
The retailer’s 2011 sales increased nearly 36% from 2010.
The European Commission expects Italy’s troubled economy to grow just 0.1% this year, yet one of the country’s oldest and biggest online retailing companies—Yoox Group, No. 69 in the Top 400 Europe—expects to weather the current storm intact, thanks to its diversification.
“Since the very beginning, our strategy has been to offer the best online experience to our customers throughout the world, and for us, this means investing seriously in localization for different countries: a global reach but with local expertise,” says CEO Federico Marchetti. “Our aim is to be much closer to our customers with tailor-made offerings dedicated to the different countries.”
Yoox, whose sales in its home market of Italy increased 17.3% to 57.7 million euros ($76.7 million) in 2011 from 49.2 million euros in 2010 ($65.4 million), is growing despite tough economic times in many parts of Europe. That’s because the company is well on its way to becoming a global business-to-consumer e-commerce company, says Marchetti.
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, grew year over year 37.5% to 141.6 million euros ($188.2 million) from 103 million euros ($136.9 million).
Overall, Yoox reported 2011 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. That figure includes revenue from Yoox.com and TheCorner.com and the company’s e-commerce services business.
For the first time the Top 400 Europe is available in three forms: print, digital and as part of the all-new and completely updated Top500Guide.com. Information on how to order the Top 400 Europe is available here.
Felicity Lewis, executive director of global online and CRM, Jurlique Holistic Skin Care Inc. will speak this June at the Internet Retailer Conference & Exhibition 2012 in Chicago in a session titled “Six keys to an effective global e-commerce operation.” The IRCE $200 early-bird discount expires Mar. 31.