Yoox Announces IPO for 2009, Follows the Footsteps of ASOS
As Michael S. Levy ("An E-Commerce IPO in Europe") and others report: Popular online fashion retailer Yoox from Italy wants to follow the footsteps of British fashion retailer ASOS. It plans to enter the stock market sometime in the first half of 2009.
Internet Retailer writes:
"The online apparel and accessories retailer has retained Italian investment banker Eidos Partners as financial advisor to manage the IPO.
YOOX’s majority owners are three financial investors, with 58.2% ownership, founder Federico Marchetti (8.1%), the management team through stock options (21.7%) and a further 30 private investors (12%)."
Fashionunited further adds:
"In 2007 the Group’s consolidated accounts showed a sales growth of 38.5% to Euro 90.8m (USD143 million) and operating profits tripled compared to 2006. These growth trends were continued in the first quarter of 2008.
The website also runs online flagship stores on behalf of leading fashion brands including Marni, Emporio Armani, Stone Island and Valentino."
Yoox has been talking for years about an IPO, but only now seems to be willing or able to implement it.
ASOS from Great Britain – with comparable revenue levels - has already for some time been on the stock market. The 2007/08 annual reports should be available here shortly.
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Originally posted in German by Jochen Krisch, translated by Jason Soo.
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