* Fashion brands to become available to China web users
* Emporio Armani opened on Nov. 26, other brands in 2011
* Shares up 2.17 pct, outperform market
MILAN, Dec 1 Italian online fashion retailer
Yoox YOOX.MI is planning to bring some of the most exclusive
fashion brands to China next year, tapping into the demand for
luxury goods of the world's largest online population.
Yoox, which powers sites for 23 fashion groups such as
Valentino and Dolce&Gabbana alongside its own multibrand
website, said on Wednesday it will open several online stores in
China in the first half of 2011, offering full-price, high-range
products to a sophisticated clientele.
Emporio Armani, also powered by Yoox, became the first
western fashion brand to debut on the online China market on
All the online stores will be in Chinese, and purchases
could be also made in yuan, Yoox said.
The company, which manages web sites for brands such as
Marni, Roberto Cavalli, Zegnaa Ferretti and Pucci, posted
third-quarter net sales of 54.2 million euros, 41 percent higher
than a year before.
China, now the world's No.2 luxury goods market with sales
in 2009 of $9.4 billion, is expected to become the first top
luxury market in the next five years. [ID:nSGE6800GU]
Yoox said it has set up a Chinese subsidiary based in
Shanghai and will launch its multibrand store Thecorner.com in
the second half of 2011.
Yoox shares were up 2.17 percent at 7.30 euros at 1249 GMT,
outperforming the Milan market index .FTITLMS which was up
(Reporting by Antonella Ciancio; Editing by Jon Loades-Carter)