Online fashion retailer Yoox recorded a sharp increase in sales during 2012, as the company recorded strong growth in its key international markets.
The company said sales grew 29.1% to $503.95 million over the year ending December 31 from $390.4 million in the prior year.
The group’s multi-brand business, which includes its yoox.com, thecorner.com and shoescribe.com saw revenue increase 23.1% to $351.25 million. It attributed growth to an acceleration of sales in the fourth quarter and the launch of a Chinese version of Yoox over the year.
The mono-brand business, which includes the set up and management of a number of fashion e-commerce websites, including those of PPR’s brands, as well as those of Armani and Zegna, saw revenue rise 45.3% over the year to $152.7 million.
“2012 was a particularly important year for Yoox. On the one hand, our multi-brand business line continued along its path of sustained growth, while on the other, we further consolidated the foundations for the Group’s long-term growth in the mono-brand business line,” said founder and CEO Federico Marchetti.
“The US was once again the group’s number one market, and we were also very pleased with Italy’s performance: specifically, in the fourth quarter, our country grew by 12% thanks to a highly successful Christmas campaign and the decision of an increasing number of customers to shop with us”.
For more fashion and apparel industry news, go to just-style.com