Calzedonia posts 8.7% sales growth boosted by international sales
today Mar 22, 2018
Italian group Calzedonia has posted its financial results for 2017, revealing an increase in sales and revenue supported by its international business.
The company’s revenue increased to 2.31 billion euros ($2.84bn) last year, representing an 8.7% jump compared with the previous year. International sales accounted for 54% of the total.
The group’s core Calzedonia brand was the biggest revenue contributor, generating 802 million euros ($987m). Intimissimi sales reached 691 million euros ($850), while Tezenis reported 609 million ($749m). Revenue reached 65 million euros ($79m) at Falconeri, and 23 million euros ($28m) at Signorvino. Finally, the group’s bridal brand Atelier Emé recorded 9 million euros ($11m) in sales in 2017.
As a result of a new sales strategy and cost cutting programme, the company increased its operating profit to 489
million euros ($601m) from 388 the previous year. Net profit climbed 19.7% to 249 million euros ($306m).
The group also expanded its retail presence in Italy and internationally, opening 242 stores throughout the year, including 189 international sites. The openings took place primarily in Spain, Russia and Germany, while in Italy, the group focused on the expansion of Intimissimi’s men’s concept.
China, Japan and the United States also welcomed new stores, including a flagship store on New York’s Fifth Avenue. By the end of 2017, the group had 4,454 stores, including 2,758 locations outside of Italy.
Moving forward, Calzedonia will continue to lead a store expansion plan across key European markets in a bid to drive sales at the group’s leading brands.
In the Italian market, the company will continue to develop the Falconeri brand, which sells products entirely made in Italy. It will also accelerate the retail expansion of Intimissimi Uomo and Atelier Emé, and refurbish existing Calzedonia, Intimissimi and Tezenis stores.
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