
Owned by the Italian group Piquadro since 2018, French leather goods brand Lancel saw its sales jump 26.3% to €60.1 million in its fiscal year ending March 31.
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Owned by the Italian group Piquadro since 2018, French leather goods brand Lancel saw its sales jump 26.3% to €60.1 million in its fiscal year ending March 31.
The Galeries Lafayette group, which formerly held 51% of the e-tailer’s capital, will acquire the entire company. Nathalie Balla and Eric Courteille will leave the company. Philippe Berlan has been appointed as CEO.
Lancel has set up its new headquarters at 34, Rue Pasquier, in the 8th arrondissement of Paris. The building additionally houses the design studio of the French leather goods brand.
French leather goods label Lancel, owned by the Piquadro group, recorded sales worth €21.4 million in Q3, equivalent to a 28.8% rise, and accounting for a 46.9% share of the Italian group's total sales.
In H1 of the 2021-22 fiscal year, closed on September 30, French leather goods label Lancel saw its sales increase by 36.4%, driven by strong performances across all its distribution channels.
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In the 2019-20 financial year, Lancel’s sales performance boosted the Italian leather group's annual revenue, which reached €152.2 million, equivalent to a 3.2% rise, though with a marked slow-down in Q4.
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