Footwear brand Ecco posts record sales and profits in 2018
Footwear brand Ecco enjoyed a positive year in 2018, achieving record sales and the highest profit since it was founded in Bredebro, Denmark, in 1963. Net sales were worth €1.31 billion (they were €1.276 billion in 2017) and pre-tax profit was €201 million, compared to €184 million in 2017.
Retail sales increased by 10%, and online sales were up 36%. Ecco's business in North America and Asia grew significantly, respectively by 13% and 11%. Over 50% of Ecco shoe sales were generated in concept stores, online and at the brand’s monobrand stores.
“To see our work and enthusiasm rewarded by highly positive results is extremely satisfying; especially if we consider that the retail sector at large is going through a troubled period and must deal with several challenges,” said the CEO of Ecco, Steen Borgholm, who announced further investment in new product development in order to promote the company’s growth.
As is characteristic of Ecco, the brand launched a spate of innovative products in 2018, both in the shoe category and in leather products, notably with the introduction of the DriTan technology, to reduce water usage.
Ecco is a family company, and it controls its entire supply chain directly, from leather and shoe production to wholesale and retail sales. The brand is distributed in 99 countries via 2,250 monobrand stores and over 14,000 multibrand retailers. Ecco employs approximately 21,300 people worldwide, and it opened 4 new stores in Italy in 2018, in Milan, Treviso, Faenza and Turin.
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