Barbara Bui: revenue plummets 11.7% in 2016 on wholesale, retail misses
Barbara Bui reported on Wednesday a 11.7% drop in revenues on a like-for-like basis in 2016, to 18.9 million euros.
Both wholesale and retail activities for the French brand experienced a double-digit percentage revenue drop. Wholesale fell 10.7% on a like-for-like basis, to 12.5 million euros, while retail recorded a 13.5% plunge in sales, to 6.4 million euros. Explaining the poor retail result, Barbara Bui blamed "a difficult start to the year followed by a drop in international customer footfall."
During the last year, "the group has consolidated its non-strategic activities and reoriented its U.S. activities to improve itself as wholesaler, while withdrawing from the retail market," said Barbara Bui, in a press release.
The Parisian label added that, for 2017, "innovation, both commercial and product, are key development points."
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