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Le Tanneur under price pressure

01/09/2010
French leathergoods manufacturing group Le Tanneur has reported a 2% drop in its results for the first half of 2010 compared to the same period last year. The company said the decrease was mostly because of price pressure imposed on its outsource manufacturing activities for big-name luxury brands.

However, it said its own-brand activities were going well, with five new Le Tanneur leathergoods shops opening during the six-month period in the towns of La Baule, Laval, Périgueux, Metz and Angers. Le Tanneur stores increased their revenue by 3.2% over the period.

The group also achieved a high level of export growth, 20.8% higher than in the first half of 2009, with most of the growth coming from Belgium, Luxembourg, Russia and the Lebanon.

Overall, revenues for the first six months of 2010 were EUR 25.7 million compared to EUR 26.2 million for the same period in 2009.


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