
Owned by the Italian group Piquadro since 2018, French leather goods brand Lancel saw its sales jump 26.3% to €60.1 million in its fiscal year ending March 31.
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Owned by the Italian group Piquadro since 2018, French leather goods brand Lancel saw its sales jump 26.3% to €60.1 million in its fiscal year ending March 31.
French leather goods label Lancel, owned by the Piquadro group, recorded sales worth €21.4 million in Q3, equivalent to a 28.8% rise, and accounting for a 46.9% share of the Italian group's total sales.
In H1 of the 2021-22 fiscal year, closed on September 30, French leather goods label Lancel saw its sales increase by 36.4%, driven by strong performances across all its distribution channels.
Italian ‘buy now, pay later’ specialist Scalapay has completed a funding round worth €131 million ($150 million), that will enable the company to bolster its personnel growth and international expansion plans.
Resale platform Reflaunt said on Wednesday that it has secured $2.7 million in pre-Series A funding, led by the investment arm of luxury fashion distributor MadaLuxe Group.
Revenue for the Italian leather goods group led by Marco Palmieri soared to €147.5 million in 2018-19 driven by Lancel, with a net financial position of €25.6 million. The revenue target for 2019-20 is €160 million.
Place de l'Opéra is the French centerpoint of a great historic brand that has been bleeding cash at the bottom line for the past few years. Marco Palmieri plans to change that at Lancel.
The Italian leather goods group, owner of The Bridge, Piquadro and more recently Lancel, posted a record 50.5% growth in the period, with a consolidated revenue of €107.3 million.
M&A deals in the luxury sector grew in number in 2017, proof of the interest investors have in a market which, according to a survey by Deloitte, is set to grow strongly for another 3 years.
Luxury giant Richemont said Monday that it has completed the sale of its underperforming Lancel brand to accessories specialist Piquadro. It didn't reveal the terms of the deal.