PROFILE - FEDERICO MARCHETTI: Dressed to impress.(Yoox.com)(Biography)

Federico Marchetti, founder of designer clothing etailer Yoox, talks to Nic Howell about the importance of exclusivity and customer data in the fickle world of fashion

Federico Marchetti's professor of retailing at Columbia Business School told him that, of all his fellow alumni, he was the only one who had successfully launched a new retail business. And it's not just among his MBA peers that Marchetti stands out. Yoox is one of the few online fashion stores to outlive the dotcom bubble.

One of Time magazine's 50 Coolest Web Sites Worldwide, Yoox has just celebrated selling its millionth item. It has also made its first profit since launching in 2000. Last year it achieved gross sales of E36m (#24.8m), up 60% on 2003, while doubling its US sales.

Although headquartered in Italy, its sales are fairly evenly split across the UK, Germany, Italy and the US. It has recently launched in Japan, and Asia is set to be a very important market.

The concept behind Yoox is to …