MILAN, Apr 16 (Class Editori) – New capital for the development of the Kiton group. The Ciro Paone company, owner of the high-end clothing brand, has decided not to resort to bank financing nor to seek new partners to grow organically, but to focus on the bond market with the launch of a 15 million bond. The issue recently occurred, as emerges from the documents consulted by MFF, has a five-year duration and will expire in February 2026. From a technical point of view, 150 bonds have been issued with a nominal value of 100 thousand euros each.
What is this liquidity for? The Kiton brand clearly specifies the reason in the bond issue document. The guidelines identified by the property – represented in the board by the chairman Ciro Paone and by the vice-chairmans Antonio and Giovanna Paone, and by the management, led by the managing director Antonio De Matteis – are two: the strengthening of the commercial presence at international level and the rationalization of the distribution network in Europe, Asia and the United States and which today is represented by the 55 boutiques present on different continents. As regards, in particular, the strengthening of the presence across the border, the company expects to increase the number of direct or franchised stores in the markets of Iraq, Russia, Ukraine, Germany, Hong Kong, China and the USA.
A commitment that, in the three-year period 2019-2021, will see Kiton investing almost 9.8 million. While as regards the sales points streamline, through targeted investments for the preparation of showrooms, the selection of new workforce and the launch of start-ups and partnerships, Kiton foresees an expense for the current year only of almost half a million euros. To this end, at the end of last year, the new corporate website was created to strengthen the online sales channel.
From a structural point of view, Kiton continues to grow, especially in terms of turnover: compared to data that in 2017 saw a consolidated turnover of 123.2 million (compared to 116.6 million in 2016), a gross operating margin of 14.9 million euros (declining compared to the 16.3 million euros of the previous year due to the absence of contributions from the real estate business spun off from the parent company Ciro Paone), and a profit decreased from 2.9 to 1.2 million. The net financial position is negative by 57.75 million, declining compared to 68.41 million in 2016.
(Source:Class Editori)
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