The luxury group said consolidated net sales had fallen 25% last year to €1.6 billion (US$1.9 billion), with most of the decline occurring in the first half of 2020. For the whole of last year, the group made a consolidated net profit of €90 million but an operating loss (EBIT) of €29 million.

The group did not give the value of total sales in January-June but said the positive sales trend so far in 2021 pointed to a much better profitability scenario for the financial year.

Sources told Reuters in early July 2021 that John Elkann, of Italy’s Agnelli family, had explored a possible tie-up as part of plans to build a luxury conglomerate.

Source: Reuters