Bimba y Lola continues to recover as sales grow 51.4% in H1
Spanish label Bimba y Lola is on the road to recovery. The Galicia-based fashion and accessories label increased its sales by 51.4% year-on-year in H1 2021. In a press release issued on September 9, Bimba y Lola said that, in the period in question, the revenue generated by its stores was 80% higher than that of H1 2020.
With e-tail contributing a 23% share of total revenue, “the first half of the financial year ended with a revenue close to the level reached before the pandemic crisis,” said Bimba y Lola, without disclosing the exact volume of sales.
Among Bimba y Lola’s recent initiatives, the launch in September of a new website, “a next-generation site that enables us to present in much broader and more dynamic fashion the work of our creative teams,” said the label.
In parallel, in the last six months, Bimba y Lola has continued to work on implementing its strategic plan, aiming to consolidate its position “as a global brand,” notably entering a number of new markets in Europe and Latin America, with Bimba y Lola’s first stores opening in Peru and Germany.
In H1 2021, Bimba y Lola also began building its new headquarters in Vigo, which, together with the expansion and automation of the logistics hub in the town of Mos (Pontevedra), is “a key investment, designed to increase [Bimba y Lola’s] design, development, production and distribution capabilities, to accelerate the digitalisation of business operations, and to take a significant step forward in implementing the label’s sustainable design model,” said Bimba y Lola.
Bimba y Lola was founded by sisters María and Uxía Domínguez. In the 2020 financial year, it generated a revenue of €164.8 million, 27.4% lower than that of 2019. In pandemic-stricken 2020, the label's online sales grew significantly, increasing by 66% and accounting for a 34% share of the total. Sales generated outside Spain accounted for 32% of the total.
Copyright © 2022 FashionNetwork.com All rights reserved.