Translated by
Nicola Mira
Feb 15, 2023
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Calzedonia group tops €3 billion revenue mark in 2022

Translated by
Nicola Mira
Feb 15, 2023

Italian lingerie and hosiery giant Calzedonia has published its preliminary results for fiscal 2022, a year in which it reached a truly remarkable milestone. The group’s revenue grew in the double digits and reached €3.047 billion, increasing by 21.6% at current exchange rates (and by 20.2% at constant exchange rates) compared to the just over €2.5 billion recorded as of December 31 2021.

Calzedonia - DR

The share of revenue generated outside Italy grew from 56% in 2021 to 58.5%, while Calzedonia continued to expand its retail footprint, both in Italy and outside the country. In fiscal 2022, the group opened 252 new stores, of which 196 abroad. As of the end of 2022, the Calzedonia group operated 5,328 stores, 1,844 of them in Italy and 3,484 outside the country.

As in previous years, in 2022 the group led by CEO Sandro Veronesi invested heavily on technology and digital infrastructure, with the aim of promoting the synergy and integration of its physical retail network with the e-tail channel. Calzedonia invested €280 million on both the commercial side of the business, strengthening and upgrading its retail capabilities, and increasingly integrating e-tail within it, and on the logistics, manufacturing and technology fronts, in order for the group's factories to remain at the forefront in the sector.

Calzedonia, based in Dossobuono di Villafranca, Veneto, picked up the pace of its expansion and consolidation outside Italy in 2022, opening new stores in the USA, France, Spain and Brazil. The next planned opening is a 150 square-metre store on Barcelona’s Rambla Catalunya, for the Intimissimi lingerie chain. The Calzedonia group is present in 56 countries and is keen to strengthen its position on Europe's key markets, while at the same time opening more stores in the USA and in South American countries.

In 2022, the group opened eight stores for its Atelier Emé bridal and occasion wear chain, and three for wine bar chain Signorvino. The latter in particular has benefited from the public’s renewed willingness to socialise and eat out, as the group explained in a press release. In 2023, Signorvino will set foot outside Italy for the first time, opening a store in the heart of Paris.

CEO Sandro Veronesi founded the Calzedonia group in 1986 - DR

Calzedonia defined as “excellent” the commercial performance of cashmere knitwear label Falconeri, which is aiming to boost its presence both in Italy and abroad. In 2023, the group will also continue to expand the Intimissimi Uomo men's underwear chain and to renovate and upgrade existing Calzedonia, Intimissimi and Tezenis stores.

In 2022, the Calzedonia group entered the ready-to-wear sector by becoming the majority shareholder, with an 80% stake, in Italian label Antonio Marras, for which it will soon set out the first concrete expansion plans. The group also underlined it is a signatory of the Fashion Pact, an aggregation of the world’s most important fashion and textile groups working together towards a more sustainable future.

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