Reuters Summit-Online retailer Yoox open to tech sector buys

Tue May 24, 2011 8:38am EDT

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(For other news from the Reuters Global Luxury and Fashion Summit, click here)

By Antonella Ciancio

PARIS, May 24 (Reuters) - Online fashion retailer Yoox (YOOX.MI) would consider buying a technology provider if an opportunity arose but is not currently planning acquisitions, its founder and chief executive said on Tuesday.

Revenue is continuing to grow at "more or less" the same pace as the last 15 months, Federico Marchetti told the Reuters Global Luxury and Fashion Summit in Paris, without giving a specific forecast for the year.

Yoox, which powers websites for top brands such as Valentino and Roberto Cavalli alongside its own multibrand sites, saw sales rise 39 percent to 69.7 million euros ($98.04 million) in the first quarter after growing 41 percent to 214.3 million in 2010.

Yoox, which expects China to be one of its top three markets by 2015 and serves over 100 countries, does not plan to enter India and Brazil in the near future, Marchetti said, as the company has enough room for growth for now.

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For more on the Reuters Global Luxury and Fashion Summit,

see [ID:nN19114449]

For graphics package, see r.reuters.com/nej69r

For luxury M&A factbox, see [ID:nN20274656]

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($1=.7109 Euro) (Editing by James Regan)

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