Luxury e-commerce group YOOX reports 10% increase in turnover in 2011
Major international luxury e-tailer based in Italy, the Yoox Group closed 2011 with a net profit of 10 million euros, upping by 9.7% from the previous year. Earnings before tax (EBITDA) rose by 28.4% to 24.1 million euros. “Based on the positive evolution of the online retail market and the demand for luxury goods, it is reasonable to assume that by the year 2012, the group can confirm the revenue growth and greater profitability,” the company said in a statement.
In 2011 the Italian group’s revenue increased by 35.9% to 291.2 million euros, as the managers of Yoox advanced in early February.Moreover, during the fourth quarter, consolidated net income amounted to EUR 86.8 million – up 36.6% compared with the same period last year – while net profit reached 6.4 million due to an increase of 25.2%.
Yoox will be focusing on international extension in the next months, helped by the new offices in Milan and Bologna. In addition, the online platform will start operating soon in China.