When a relationship works why ruin it. That may be the reason why e retailer Yoox has renewed its contract with retail brand Dsquared2 for another 5 years. According to CEO Federico Marchetti this renewal of the partnership is important because its the most highest grossing store and has the highest online penetration.The Yoox group has reported a growth over a three month period ending in March, the boost has shown growth in all its main markets and in both business channels. But the company has had its downs with one of the issues being an issue with currency. Despite that glitches the outlook for 2014 remains positive and it expects further growth in the global market as the company tries to strengthen its mobile and cross channel offerings while leveraging its multi and mono brand stores.
In the 1st quarter the e retailer’s net profit was 900,000 euro or 1.2 million which was 13.4% down from the 1.1 Euros or 1.4 million. The loss was due to few things like unrealised interest expenses and investments in technology. Despite the volatile fluctuations with currency the revenue has gained 14.6% to 126.5 Euros or 173.3 million. The success is also due to mobile sales which has increased by 19.7% to 20 million euros or 27.4 million dollars. In general retail sales has improved Europe’s economy and therefore the e retailer outlook is really positive. So with that said lets go shopping to promote the greater good.