Sales for Italian leather goods group Piquadro skyrocket over nine months thanks to Lancel
Italian leather goods group Piquadro posted a record 50.5% growth over nine months, generating a consolidated revenue of €107.3 million. This exceptional growth, as the Bologna-based group wrote in a press release, is the result of the acquisition last June of French handbag label Lancel, which in the period in question recorded sales for €32.2 million, generating 45.1% of the group’s revenue growth.
Another factor in the group’s significant sales performance was The Bridge, a brand whose revenue increased by 13.8% to €20.5 million, while sales for the Piquadro brand, which were worth €54.6 million, grew by only 2.5%.
Italy remains the main market for the Piquadro group, generating a revenue of €57.9 million (+7.5%). Italy aside, the rest of Europe performed exceptionally, growing by as much as 198.9% over the same period of 2017. In the rest of the world, the group’s revenue was up by 62%.
The group is still led by founder Marco Palmieri, and operates 189 monobrand stores, of which 105 for Piquadro, 14 for The Bridge and 70 for Lancel, across over 50 countries worldwide.
Copyright © 2021 FashionNetwork.com All rights reserved.