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The Italian luxury leather goods Group has recorded €71.32 million in revenue for the first nine months of fiscal 2017-18, an increase of +39.2% year-on-year.
The growth has been attributed to a consolidation of The Bridge brand, which registered an e-commerce growth of +19.4% in the period, and a good performance of the Piquadro brand with sales up +4%. As previously reported by ILM, the Company acquired an 80% majority stake in Il Ponte Pelletteria, the previous owner of leather goods brand The Bridge, in 2016.
The leather goods Group also registered a +42.6% growth in the Italian market, and +43.7% in Europe, where Piquadro says it is focussing its efforts and which currently accounts for 21.6% of its consolidated sales. Sales outside Europe, however, declined -26.2%. The Group is to target Asia in a ‘more structured way in 2018’ and ‘with extreme caution’.
"We are aiming at €95 million in revenue for the fiscal year, with a growth in low, double-digit ebitda", Marco Palmieri, President, Piquadro, told Italian media Pambianco News.
Source: Pambianco News