The online lifestyle store Yoox has done well financially in the last quarter, bringing in a 15.9 percent gain in net profit to $3.5 million. However, despite this profit increase, Yoox’s shares fell 2.3 percent to 20.20 euros, or $27.15.
However, Yoox still seems to be doing incredibly well overall, and the company is predicted to have a profitable end of 2014. Kartell.com, which is operated by Yoox, was launched in Europe in May and, this Tuesday, July 29, Jeanne Lanvin SA and Yoox finalized their partnership to implement an online Lanvin store. Additionally, Yoox partnered with Alexander Wang Inc. in June to manage their online flagships, such as Alexander Wang and T by Alexander Wang.
And since Wang is such a global brand, their partnership with Yoox, which lasts until December 2017, is by default a global affair. However, Wang isn’t Yoox’s only global partnership. In fact, Yoox manages 38 online stores for global fashion brands such as Armani, and they are currently working on Fendi.com, which will go live in 2015, and Marni.com.
Then, in July, Yoox extended its partnership with Jil Sander for another five years, while their agreements with Coccinelle, Vicini and Bally, will not be renewed after they expire at the end of 2014.
From the looks of it, Yoox will be around for awhile.