Bimba y Lola posts 12% increase in first-half sales
Spanish designer brand Bimba y Lola, led by María and Uxía Domínguez, increased sales by 12% in the first half of the 2019 financial year, supported by its international growth plan.
In a press release issued on Tuesday the company didn't provide exact revenue numbers for the first six months of the year, but revealed that there was “a positive evolution across all geographies, with strong growth in Asian and Latin American countries”. Additionally, the womenswear label said that international sales, including revenues from physical stores and online channels, now account for a third of total revenues.
During the period, Bimba y Lola made its debut in Malaysia with a first boutique in Kuala Lumpur. Over the next few months, the company will continue to move forward with its international ambitions with planned launches in new markets including Hong Kong and Panama, as well as the opening of stores in key locations in Venice and Florence. In Italy, Bimba y Lola also recently opened a new location in Bologna this summer.
The online channel is also a priority for the mid-range brand. It has plans to launch e-commerce in Chile and Singapore, as well as growing its online presence by joining new online platforms, according to its strategic plan for the next few years. With the aim of supporting its online and physical retail growth, the brand opened a new logistics centre in Pontevedra, Spain, in April.
In 2018, Bimba y Lola reported an 11.4% increase in revenues to 201.3 million euros. The international business accounted for 28% of total sales. At the end of August 2019, the firm had a presence in 15 countries through 280 stores, including 111 locations outside Spain.
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