Yoox CEO Federico Marchetti. Photo: Nicky Loh / Getty
In the world of online retailers, Net-a-Porter may get a lot of the press, but things are looking good for Italy’s Yoox Group and the multi-brand designer e-commerce sites it operates.
In its year end report published Wednesday, the company stated that net revenue from its multi-brand sites — Yoox.com, Thecorner.com and Shoescribe.com, which account for nearly three-quarters of its business — was up 25.3 percent in 2013 at roughly $433.2 million. They did particularly well during the holiday season, with a 29.5 percent boost in net revenue for the fourth quarter.
Yoox Group has made the smart move of developing and operating websites for designer brands, which pays off when it comes to stocking its multi-brand sites. This year it added Fendi to Yoox.com’s designer roster, while Thecorner.com and Shoescribe.com added Bottega Veneta, Chloé, Marc Jacobs and Michael Kors, among others, to their lineups. Burberry launched on Thecorner.com last month.
On the mono-brand side of things, Yoox Group launched Missoni’s e-commerce site last year and renewed its partnerships with Emilio Pucci, Moschino, Napapijri and Maison Martin Margiela. Yoox Group also manages the sites of a portfolio of Kering companies including Alexander McQueen, Balenciaga, Bottega Veneta, Brioni, Sergio Rossi, Stella McCartney and Saint Laurent. Net revenue from Yoox’s mono-brand sites — which accounts for a little more than a quarter of its business — grew 11.9 percent in 2013.
Europe (excluding Italy) is still Yoox’s largest market, contributing 48 percent of its total revenue, while North America and Italy follow at 22.6 and 15.6 percent, respectively. North America is its fastest-growing market, though, having seen a bump of 26.1 percent in the last year.