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.
Italian ‘buy now, pay later’ specialist Scalapay has completed a funding round worth €131 million ($150 million), that will enable the company to bolster its personnel growth and international expansion plans.
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.
Revenue for the Italian leather goods group led by Marco Palmieri soared to €147.5 million in 2018-19 driven by Lancel, with a net financial position of €25.6 million. The revenue target for 2019-20 is €160 million.