Lancel sales up 26%
Paris-based leather goods brand Lancel posted sales of €60.1 million for fiscal year ending March 31, up 26.3% year-on-year.
Owned by the Italian group Piquadro since 2018, Lancel has been repositioning itself these past few years, reformulating its product offering and expanding internationally. Over the last financial year, all its distribution channels grew: wholesale grew 32.9%, direct sales, which include 78 boutiques, increased by 27.9%, and e-commerce was up by 6.5%.
The Piquadro Group, whose portfolio also includes the leather goods brands Piquadro and The Bridge, recorded sales amounting to €149.4 million in FY 2021/22, up 31.7 % year-on-year. In the period under review, the Piquadro brand achieved sales of €64.2 million, up 37.8 %, while Florentine label The Bridge saw its sales reach €25.1 million, up 30.1 %.
"The Piquadro brand was hit the hardest by the pandemic since it focuses on travel; this is precisely why it gave us the greatest satisfaction seeing sales increase by 37.8%, attesting to the validity of the strategy put in place to broaden the brand's values and frame of reference. Lancel's turnover result is very positive, with an increase of 26.3%, which was the least affected by the pandemic within the group. The growth of the direct sales channel for all three brands was significant, confirming the trend of consumer's return to in-store shopping," stated Marco Palmieri, CEO of the Piquadro Group, present in 50 countries and with 180 points-of-sale worldwide.
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