Bimba y Lola grows 11% in 2018, revenues hit €200 million
Bimba y Lola continues to grow. The Spanish ready-to-wear and accessories brand reported revenues of €201.3 million in 2018, up 11.4% on the previous year when it recorded €180.8 million.
The brand’s growth in the latest financial year ended 28 February 2019 was attributed to surging international demand, with overseas sales rising by 21% year-on-year.
International sales now account for 28% of the brand’s total revenue, and come mostly from European countries such as Portugal, France, the UK and Italy (the brand opened new stores in Rome, Milan and Bologna last year), as well as South American countries including Mexico, Chile and Colombia, and Asian countries like Singapore and Korea.
Sales at Bimba y Lola grew across digital and physical channels, the label said in a statement. At the end of 2018 the brand had 272 stores worldwide, and over 100 locations outside Spain.
The business, which counts with a 1,500-strong workforce, launched a sale process in February 2018 but halted talks in the summer after appointing Jose Manuel as new chief executive officer. The former Esprit executive has been tasked with driving the brand’s global growth through a new business strategy.
Founded by sisters Maria and Uxia Dominguez, the brand said 2018 represented an important step forward in the strengthening of the brand and its future plans, and that Bimba Y Lola “will continue to develop the strategic growth plan for the coming years.”
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