Desigual's growth is only at a single digit
Desigual has seen a complicated start to the year but has still managed to come out of it on top. The Spanish brand, with an ongoing heavy presence in Europe and thus only mildly impacted by the currency fluctuations, saws its quarterly numbers increase by 6.5% to 273.5 million euros.
However, at the same time last year, it recorded a 16.2% growth in its sales. The press release from Eurazeo, which invested in the fashion label last summer, even specifies that the increase this year is mainly due to D-shops and store openings. "Accessories (22% of the group's revenue) and Italy (20% of the group's revenue) were the main growth drivers for the period," the press release also states.
Desigual, which hit the ground running when opening to support its development, at the time of posting its 2014 results that "it had undertaken a review to order optimise its store network to support the margins in this context of weak growth."
A few days ago Desigual announced the departure of Manel Jadraque, its CEO, and the return of Thomas Meyer, founder and main shareholder, to take on the reins.
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