MILAN, Jan 8 (Class Editori) — Despite a slowdown in December, Piquadro closes the nine-month period with a 3.7% increase in revenue. The consolidated turnover of the Italian leather goods Company, which controls the homonymous Brand, The Bridge and Lancel, amounted to 131.5 million euros. “The growth dynamics deteriorated in the last quarter, especially in December, across all of Europe,” Marco Palmieri, President and CEO of the Bologna-based Group, commented. “Moreover, China’s post-Covid-19 recovery did not unfold as expected,” he added.
Leading the revenue growth was once again the flagship Brand, which closed the nine-month period with a revenue increase of 9.8% to 58.5 million euros. Both wholesale (+17.3%) and the Directly Operated Store (DOS) channel (+5.4%) showed positive trends. The Bridge reported a similar performance, with revenues increasing by 9.4% to 25.2 million euros. Revenues at Maison Lancel, on the other hand, fell 5.4% to 47.7 million euros. It was the Group’s only brand to record a decrease during the nine-month period. The brand’s performance was affected by the specific situation in the domestic market, characterized by protests in France, where the Maison generates approximately 90% of its sales.
Regarding the Brand, which was taken over by the Group in 2018, Palmieri stated that “despite the restructuring of the sales network with the closure of unprofitable boutiques and product delivery policies with different schedules from previous years, it has recorded a 12.7% increase in sales compared to 2019”.
(Source:Class Editori)
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