Bimba y Lola CEO leaves company
Big changes are afoot at Bimba y Lola. The Spanish apparel and accessories brand's CEO has stepped down from his position and is leaving the fashion industry behind, taking on a new role at renewable energy company Acciona.
According to Friday's edition of Spanish business newspaper Expansión, Nicolás Corral is leaving Bimba y Lola in order to head up Acciona Servicios. Corral arrived at the Galician brand in 2012 and in the six years that he has led the company it has seen its highest levels of growth.
The CEO's exit comes at a crucial moment for the brand, which is currently in the midst of an intense expansion process. The company recently added Italy to the list of countries where it has a market presence with the opening of its first store in Rome and also expanded to Ecuador earlier this year with a first location in Guayaquil.
In the not too distant future, Bimba y Lola could also be passing into the hands of an international investment fund. Both Dr Martens-owner Permira and Carlyle have shown interest in acquiring the brand, which was founded by María y Uxía Domínguez, nieces of Spanish fashion designer Adolfo Domínguez.
The Galician brand is currently seeing good results, having closed fiscal 2017 on a high, reporting revenues totalling 180.8 million euros and an increase of 18.5% in its annual sales. The company operates 249 stores in 14 countries. In the coming months, Bimba y Lola is looking to continue expanding, opening some 20 points of sale in the UK, Portugal, Korea, Kuwait, Mexico, Chile, Colombia and France.
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