Yoox has become in a few years the e-commerce global partner for the main fashion and design brands and established itself as a brand name in the industry. Smart communication was key to its success.
Founded in 2000 by Federico Marchetti with the idea of creating a platform to sell the unsold stock of designer labels at discounted prices. Selling clothing (and therefore articles that, in theory, require dressing room trials and advice) on the web unhinged the existing norms of e-commerce at that time—and it was a success. From end-of-season articles sold at a discount on the multi-brand platform of the same name, the group then went on to deal with more current and sought-after pieces (thecorner.com) and to design and implement one-brand stores for the major labels (the first mono-brand, Marni, was created in 2006; the last six, part of a joint venture with Kering, were launched at the end of June), thus prompting the opening of techno-logistical centers and offices in Europe, the United States, Japan, China, and Hong Kong. Its distribution reaches more than 100 countries and operates with the multi-brand stores yoox.com, thecorner.com, shoescribe.com, and numerous mono-brand online stores.
The company debuted in Piazza Affari in December 2009, during a lean period for the Italian Stock Exchange. In three and a half years, the stock quintupled in value, and today Yoox almost reaches 20 euro per share, with constant growth. And not only that, but starting December 23, 2013, it will be in the basket of the FTSE MIB index, among the “big names” of the Milanese list. With regard to its accounts, in 2013 the group’s turnover hovers around 456 million euro (up from 376 million in 2011), a figure expected to grow in 2014.
The industrial strategy for the future is to further reinforce offerings in some strategic markets—like North America and Asia, with a particular focus on China—and, at the same time, to increase full-price offerings by valorizing the existing synergies between the mono-brand and multi-brand business profiles, while continuing to invest in innovation.