Yoox Group FY14 net revenues witness 15.1 percent rise

Consolidated net revenues in 2014, at the Yoox Group of 524.3 million euros (595.9 million dollars), up 15.1 percent and over 17.7 percent at constant exchange rates from 455.6 million euros (517.5 million dollars) at December 31, 2013. A positive performance was achieved in the fourth quarter of the year, with net revenues up 16 percent and over 17.2 percent at constant exchange rates.

In 2014, the group recorded a monthly average of 15.2 million unique visitors, which translated to 3.4 million orders, an increase of 21.6 percent from 2.8 million in 2013. The number of active customers also increased to 1.3 million compared with 1.1 million at December 31, 2013.

The multi-brand business line, which includes yoox.com, thecorner.com and shoescribe.com, recorded consolidated net revenue rise of 16.3 percent and over 19.7 percent at constant exchange rates driven by positive results of all three online stores. During the year, yoox.com achieved double-digit net revenue growth owing to rising acquisition and retention rates. Shoescribe.com registered an outstanding performance with enrichment of its portfolio during the year, including the debut of Dolce & Gabbana in December. Positive results were also achieved by thecorner.com, which continued to extend its offering in 2014, with the addition of important fashion brands such as Burberry and Moschino.

In the fourth quarter of 2014, the multi-brand business line net revenues increased 13.1 percent and over 15.7 percent at constant exchange rates. Overall, at December 31, 2014, the multi-brand business line accounted for 72.8 percent of the group’s consolidated net revenues.

The mono-brand business line includes the design, set-up and management of the online stores of some of the leading global fashion and luxury brands. In 2014, net revenues of this business line were up 11.9 percent. Growth in the mono-brand business line was 17.7 percent, compared with the previous year. The gross merchandise value (GMV) grew by 19.2 percent and by 24.9 percent. An excellent performance was recorded in the fourth quarter, with consolidated net revenues of the mono-brand business line rising 23.3 percent. The GMV grew by 25.3 percent. Overall, at December 31, 2014, the mono-brand business line accounted for 27.2 percent of the group’s consolidated net revenues with 37 online stores.

In 2014, the group recorded growth in all its key markets. Excellent results were recorded by Italy, with net revenues moving up 21.5 percent compared to 2013. The rest of Europe also recorded positive results, with growth of 13.7 percent in 2014 and over 17.7 percent at constant exchange rates and 12.3 percent in the fourth quarter or over 18.4 percent at constant exchange rates. The performance of the last three months of the year reflects a softer growth of the Russian market - due to the sharp further depreciation of the currency - and an acceleration in net revenue growth of the other main European markets, including France, Germany and the UK. In 2014, North America - the Group's no. 1 market - achieved a 12.1 percent growth of net revenues at current and constant exchange rates. This performance benefited from the sharp acceleration in the fourth quarter, with net revenues up 24.1 percent or over 16.7 percent at constant exchange rates.

In Japan, the group recorded a net revenue increase of 7 percent or over 15.7 percent at constant exchange rates. In the fourth quarter, growth was of 1.2 percent or over 5.3 percent at constant exchange rates. Lastly, the outstanding performance of other countries continued, with an increase of 32.1 percent in 2014 or over 32.2 percent at constant exchange rates, accelerating at over 41.4 percent in the fourth quarter or over 34.1 percent at constant exchange rates), driven by yoox.com in China.

The parent company Yoox ended 2014 with net revenues, net of returns and customer discounts, of 435.4 million euros (495.3 million dollars), an increase of 14.1 percent over 2013. EBITDA increased over 18 percent.