ECCO achieves historical profit margin

Denmark
Published:  21 March, 2019

The Denmark headquartered footwear manufacturer, and also a tanner, says it has achieved record sales and profit in 2018.

ECCO says that, in 2018, it has reached the highest profit in its 55-year-old history, with net sales totalling €1.31 billion and profit before tax €201 million, up from €184 million in 2017. Direct-to-Consumer sales are said to have continued the fast growth of previous years, recording a +10% growth in retail and +36% in online sales. In particular, strong growth was recorded in the North American and Asian markets, up +13% and +11%, respectively. According to ECCO, more than 50% of its shoes were sold in concept stores, both online and offline. “Further investments in the development of new products will continue and help us generate a sustainable and healthy growth for ECCO also in the years to come” said Steen Borgholm, CEO, ECCO.

Founded in 1963, ECCO has footwear factories in Indonesia, Thailand, China and Slovakia, as well as a tannery in Dongen, The Netherlands. It also makes leather in China, Indonesia and Thailand.