Yoox to invest rather than distribute a dividend

By

Jean-Paul Leroy

Published
Apr 22, 2014

"Yoox will not distribute dividends for the fiscal year 2013 ... in order to continue to invest in innovation." This is Yoox CEO and founder Federico Marchetti’s reply, as reported by IGN, to a question during a general meeting of shareholders.

"The market,” he added, “is very competitive - especially in Anglo-Saxon countries where technology and the internet are much more widely disseminated than in Italy.”

He recalled a previously announced 100 million euro investment plan, 33 million of which was already committed last year. One third of the 100 million investment will be allocated to a new logistics platform, and two thirds to purely technological innovation.

The Yoox CEO insists: "We have always reinvested our earnings to improve our market position. We are convinced that the return on such a decision for shareholders is much more important than the distribution of a dividend."