More Proof that Fashion is Recession Proof


While the housing and automobile markets saw a tiny bit of recovery over 2012, a good number of fashion retailers saw some significantly larger (percentage-wise) revenue increases. This just goes to show that even when people are getting foreclosed on, losing their investments, getting laid off or the proverbial sky is falling, everyone is still going to need to buy clothes. 

Italian online fashion retailer Yoox said on Wednesday its net revenues rose 29 percent in 2012 to 376 million euros ($509.03 million), boosted by a strong performance in its key US market.

In a statement on preliminary results, the company said it had seen a very positive performance across its main markets, including its No. 1 market of North America where sales rose 36 percent. Read More

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