MILAN, Mar 25 (Class Editori) — Fope ran at double speed in 2023. The Venetian jewelry and luxury brand, headquartered in Vicenza, reported 66.8 million euros in revenue for fiscal year 2023, a 7.4% increase over 2022. Despite this growth, net profits experienced a slight decrease to 10.1 million euros, compared to the previous year’s 10.8 million euros. Nonetheless, the company’s EBITDA increased to 17 million euros from 15.8 million euros in 2022, with an EBITDA margin of 25.4%.
“We are pleased to report highly positive financial results for the fiscal year 2023, indicating robust growth in revenue volume along with impressive margins and financial stability,” CEO Diego Nardin commented. “Despite a notable increase in expenses for communication and marketing activities compared to the previous fiscal year, our EBITDA margin remained strong at 25.4%”.
The Group’s growth was driven by both international markets and Italy, with the latter showcasing exceptional sales performance. This success can be attributed to the renowned Venice boutique and the Brand’s multi-brand retailers. Furthermore, in January, the Group finalized the establishment of Fope Japan, a new company held 80% by Fope and 20% by Swissprimebrands, a key partner responsible for managing distribution in the Asian market.
The company now operates through a network of over 700 retail outlets worldwide and maintains direct control over key markets through its subsidiaries: Fope USA for the Americas, Fope Jewellery Limited for the UK, and Fope Deutschland GmbH for Germany. Furthermore, it boasts flagship boutiques located in Piazza San Marco in Venice, Old Bond Street in London, the Ginza district in Tokyo, and the Seibu mall in Kuala Lumpur, Malaysia. (All rights reserved)
(Source:Class Editori)
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