International demand fuels 12.6% sales growth at Bimba y Lola
Spanish designer business Bimba y Lola continues its steady growth march, with sales rising by a healthy 12.6% to €226.7 million in the year to 29 February.
This was on top of an 11.4% increase in sales in 2018, demonstrating growing demand for its womenswear and accessories collections. 2019 revenues were €25.4 million higher than in 2018.
The performance was boosted by international sales, which account for 33% of total revenues. The premium label, which has operations in 18 countries, said in a press release that it saw positive sales growth across all countries and channels, including stores and e-commerce.
The list of countries includes Hong Kong and Malaysia, two new markets for the business, as well as Chile and Colombia, where it opened new stores during the year. In total, Bimba y Lola has 285 stores globally, 13 more than in the previous year. 117 of these are outside of Spain.
2019 was a year of changes at the clothing business. In April, commercial director Susana Sánchez stepped down from her role, and José María Castellano, former CEO and vice-president of Inditex, joined the company. A new board of directors has also been installed, with eight members. And during the year, the company set up a subsidiary to manage its real estate activities.
Commenting on the results, José Manuel Martínez, chief executive officer, said: “Bimba y Lola has grown thanks to the hard work of nearly 1,800 people in our team. What we have achieved together in 2019 gives us motivation to continue working towards strengthening Bimba y Lola as a leading global brand.”
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