Yoox is growing in every market where it has a presence — even in still online-averse China — and the multibrand (or omni-brand, really) retailer’s success is proving a perfect case study for what’s possible when mobile and luxury correctly come together.
How is Yoox seeing revenue rise by a third, even in its recession-ridden native Italy? 1. It’s not just a source for luxury brands, it’s a one-stop-shop for all the luxury brands. By offering basically everything, Yoox has made itself an automatic go-to over competitors like Net-a-Porter and Gilt. 2. Yoox is squarely in the mobile game (their app is consistent from mobile to tablet). A quarter of visits to the site during the last holiday shopping season were via mobile. They’re fully capitalizing on this. 3. By operating its own multibrand site alongside the individual Web sites for 33 luxury brands (with all the PPR labels on the way this year) the company basically can’t not make money.
Last but not least, it’s almost an afterthought, but an important one: founder Federico Marchetti mentions to the Financial Times that Yoox is just starting data mining and projects it’ll be a boon to the company. If that’s the case, expect Yoox to continue to dominate the online luxury sphere, and be a model of profitability, going forward.