Yoox Group’s Q3 web sales roll ahead by 27%
Net income grows by 41% for the quarter.
International online apparel and accessories retailer Yoox Group showed strong growth for third quarter and first nine months of fiscal 2012.
For the third quarter ended Sept. 30, Yoox, No. 62 in the Internet Retailer Top 500 Guide, reported:
- Total sales of 93.22 million euros ($118.7 million), a 27.4% increase from 73.19 million euros ($93.2 million) in the third quarter of 2011. That figure includes revenue from retail sites Yoox.com, TheCorner.com and Shoescribe.com and the company's e-commerce services business. Shoescribe.com is a multibrand women's shoes e-commerce site that launched in March.
- Net income of about 2.03 million euros ($2.58 million), up by about 41.1% from 1.44 million euros ($1.83 million) in Q3 2011.
As part of its previously announced growth plan, on Oct. 8 the retailer launched Yoox.com in China. The launch follows a 2010 roll-out of the company’s mono-brand business line, which includes commercial web services for other retailers, and the retailer’s 2011 launch of multibrand boutique TheCorner.com.
In August, PPR SA, one of the largest retail conglomerates in Europe, and Yoox Group, announced a joint venture targeting the global luxury apparel market. The new company, 51% owned by PPR and 49% by Yoox Group, is managing several PPR luxury brands’ online stores, including Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga and Sergio Rossi.
For the first nine months of fiscal 2012, Yoox reported:
- Total sales of 266.1 million euros ($339.1 million) a 30.2% increase from 204.4 million euros ($260.4 million) in the first nine months of 2011. That figure includes revenue from Yoox.com, TheCorner.com and Shoescribe.com, and the company's e-commerce services business.
- Sales for its Yoox.com, TheCorner.com and Shoescribe.com e-commerce sites, which Yoox calls multi-brand sales, increased 22.2% to 186.2 million euros ($237.2 million) from 152.4 million euros ($194.1 million).
- Commercial web servicesrevenue of 79.83 million euros ($101.7 million), a 53.6% increase from 51.98 million euros ($66.2 million).
- Sales in Italy of 41.2 million euros ($52.50 million), a 1.2% decrease from 41.7 million euros ($53.14 million).
- Sales of 128.1 million euros ($163.2 million) to the remainder of Europe, a 26.3% increase from 101.4 million euros ($129.2 million) in the prior year period.
- North America sales of 56.33 million euros ($71.80 million), a 40.1% increase from 40.22 million euros ($51.26 million).
- Sales in Japan of 23.0 million euros ($29.3 million), up by 66.8% from about 13.8 million euros ($17.6 million).
- Net income of 5.61 million euros ($7.14 million), down by 7.1% from 6.04 million euros ($7.69 million) in the first nine months of 2011.
The company's mono-brand business provides retailers and manufacturers with e-commerce platform management and support, order and content management, merchandising, marketing, and fulfillment services.