An advertising watchdog’s report found dozens of claims that it says were false and deceptive. Wal-Mart blames suppliers.
Q3 net revenues also rose 20% year over year for the e-commerce operator.
Yoox Group, an Italian retailer that sells online and operates e-commerce sites for other brands, says its net revenue in the first three quarters rose 20% year over year to 319.3 million euros (US $431.9 million) compared with 266.1 million euros (US $360.0 million) in the same period of 2012. Yoox Group’s third quarter net revenues reached 111.8 million euros (US $151.2), up 20% from 93.2 million euros (US $126.1 million) in Q3 2012.
Yoox Group, No. 80 in the 2013 Top 400 Europe guide, divides its businesses into what it calls its multi-brand line, which includes company-owned e-commerce sites Yoox.com, TheCorner.com and Shoescribe.com, and its mono-brand line, which includes the set-up and management of luxury retail sites for brands such as Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga and Sergio Rossi.
For the first nine months of 2013, Yoox also reports:
- The average number of monthly unique visitors to its numerous luxury sites was 12.5 million, compared with 12.3 million in the same period a year earlier.
- It received 2 million orders, up 17.6% from 1.7 million a year earlier.
- Its sites’ average order values rose 6.5% to 213 euros (US $288.15) compared with 200 euros (US $270.56) in the nine months of 2012.
- The number of customers who had placed an order on a Yoox site in the past 12 months rose from 911,000 in the first nine months of 2012 to 1.03 million in the same period of 2013, an increase of 13.0%.
- Its multi-brand line sales reached 230.0 million euros (US $311.14 million), up 23.5% compared with 186.3 million euros (US $252.03 million) in the first three quarters of 2012.
- Multi-brand accounted for 72.0% of sales, compared with 70.0% a year earlier.
- Its mono-brand line posted revenue of 89.3 million euros (US $120.80 million), up 11.8% from 79.8 million euros (US $107.95 million) a year earlier.
- Its mono-brand line accounted for 28.0% of sales, compared with 30.0% of sales a year earlier.
Yoox says sales were especially strong in North America, Italy and the rest of Europe (excluding Italy). North American sales in the first three quarters grew 29.5% to reach 73.0 million euros (US $98.75 million) compared with 56.3 million euros (US $76.16 million) in the same period last year. Sales in Italy, driven by smartphones and tablets, Yoox says, reached 47.5 million euros (US $64.26 million) up 15.1% compared with 41.3 million euros (US $55.87 million) a year earlier. And sales in the rest of Europe, excluding Italy, grew 19.2% year over year for the first three quarters to reach 152.7 million euros, (US $206.57 million) compared to 128.1 million euros (US $173.29 million) a year earlier.
In Q3 Yoox, which is also No. 195 in the Internet Retailer Top 500 Guide, launched a redesigned version of armani.com.