Yoox: profits up 9.4% in 2014
Yoox Group has once again recorded an excellent year, "despite the many unfavorable conditions affecting the whole of 2014," according to Federico Marchetti, the founder and CEO of Yoox Group.
According to the results it has just published, the Italian online fashion sales group saw its net profit rise by 9.4% to 13.8 million euros, while its Ebitda increased by 13.4% to 48.8 million.
The group had already published its preliminary results in early February, indicating that it had exceeded 500 million euros in turnover for the first time.
Yoox Group recorded a turnover of 524.3 million euros with a double-digit increase of 15.1% compared to 2013 (+17.7% at constant exchange rates).
2014 once again demonstrated "the solidity of Yoox’s business model," in the words of Federico Marchetti, his group continuing to rely on the strong performance of its multibrand business and increasingly also on the contribution of mobile networks (smartphones, tablets).
Meanwhile, multibrand business rose by 16.3% to 381.7 million euros. The Italian group also continued to make progress with the management of its virtual monobrand stores despite its separation from Diesel’s e-commerce business in November 2014. It currently manages 37 monobrand e-shops, which make up 27.2% of total sales, amounting to 142.6 million euros (+11.9%).
Sales in the Italian market jumped by 21.5% to 86.1 million, while in the rest of Europe sales have soared by 13.7%. The US was confirmed as Yoox’s largest market with an increase of 12.1% to 115.2 million euros last year. In Japan, sales increased by 7%.
Despite these positive results, "the Board of Directors voted to propose at the Shareholders’ Meeting that a dividend not be paid in order to strengthen the asset structure, and to reinvest profit to provide additional funding for the Company’s growth," just as it did in 2013.
The company’s net financial position increased by 20.5 million euros at the end 2013 to 31 million as of December 31, 2014.
Also a major item in company news: the launch on Thursday of Lanvin’s online store in Europe, the US and Asia-Pacific.
In addition, in 2014 the group launched certain "cross channel” features intended to allow brands to offer customers "a fully integrated and seamless experience between their physical and virtual ones." The group intends to offer the service to a growing number of monobrand clients in 2015.
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