Lancel helps boost Piquadro sales

Worldwide
Published:  21 June, 2019
Lancel leather bags

The Italy headquartered producer of leather goods has posted consolidated revenues of €147.5 million for the year ended March 31, 2019, up 51.1% over its previous fiscal year.

Piquadro said the revenue increase was primarily the result of the consolidation of Maison Lancel from June 2018, which registered sales of €45.2 million, as well as the positive sales performance of the Piquadro and The Bridge brands. Same-store sales amounted to €102.3 million (+4.8%). EBITD was €0.83 million in the period and adjusted EBITDA €12.01 million (+11.4%). Consolidated net profit totalled €34.48 million and adjusted net profit €6.16 million (+29%).

Sales of the Piquadro brand increased 2.6% in the year, while The Bridge brand reported a 11.6% growth in sales in the period. Maison Lancel sales revenue in the period June 2018 – March 2019 totalled € 45.2 million, representing a 46.3% contribution to growth. Geographically, sales in Italy rose 7.2% in the year, while in Europe Group sales totalled €63.4 million, that is, 43% of consolidated sales; up from 21.1% in the previous fiscal year and up 207.4% over fiscal year 2017-2018. Without considering the increase due to sales of Lancel brand products (199.8% of growth in the European market), Piquadro and The Bridge-brand sales in the European market grew 7.6%.