Milan based E-commerce giant, Yoox, just posted double digit growth in Profits for Q2. As of the first half of this year, Yoox grew by 20 percent compared to the same period last year. Earnings before taxes increased by a whopping 41 percent, while net income grew at almost 2 percent.
CEO Federico Marchetti comments, “in the first half of 2013, Yoox reached over a million active customers. We are very pleased with our performance in Italy, which was extremely good for the third consecutive quarter, and also with the exceptional results we delivered in the United States.”
Geographically, both the Italian and the US market were the strongest markets for the group. Surprisingly, considering the economic downturn, the Italian sector equated to 15 percent of their sales, with their revenue growing to 31 million at almost 15 percent. While the US accounted for about 22 percent of their group revenue, amounting to as much as 46 million. growing at 23 percent.