Liu Jo sales rise 7% in the year to September
Liu Jo has ended the third quarter on a high note. The Italian brand’s recently submitted accounts have revealed sales for the nine months to 30 September of 269.7 million euros ($342.7 million), up 7.4% on the previous year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) reached 56 million euros ($67 million) in the first nine months of the year, increasing by 8% on the same period a year earlier.
Pre-tax profit also grew and totalled approximately 45 million euros ($54 million).
According to the company, the sales growth seen during the period is a result of an evolution towards a multichannel strategy, due mainly to increases in its retail channels.
In the report, Liu Jo also highlighted the strong performance of its ecommerce channel, which is becoming increasingly important for the brand and followed the same positive trend with a year-on-year increase.
A closer look at the results reveals that the brand is becoming stronger in France, and continues to grow in Benelux, Russia, and the Iberian Peninsula, which helped boost sales in Europe, the Middle East and Africa (EMEA) by 9%.
The Italian brand has a worldwide presence with 350 standalone stores and 5,000 multi-brand spaces across the world. During the period, it opened 43 new directly-operated sites, franchised stores, outlets and concessions.
Additionally, Liu Jo has announced plans to roll out several new stores this year, with the line-up including a new location in Moscow.
“The results for the nine months of 2017 are positive and confirm a rewarding year for us in several fronts, not only in terms of business but also in terms of brand visibility growth. We are trying to work in an increasingly focused manner and I am sure that in 2018 we will continue along the same path of consolidation and growth,” said Marco Marchi, CEO and creative director of the brand.
Liu Jo sells ready-to-wear fashion, jewellery, watches and underwear for women.
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