Coccinelle profits from travel retail
Italian luxury brand Coccinelle has reported sales revenue increases of 20% for 2022.
The leathergoods firm, which will also entered the footwear sector for the first time this year, posted a 30% gain for their retail channel with a similarly impressive 20% gain on their wholesale activities, giving “significantly positive” EBITDA (earnings before interest, taxes, depreciation, and amortization)
With business activities covering leathergoods and accessories, 80% of total sales were attributed to leather bags with small accessories and mini bags accounting for 18%. Retail operations hailed positive results across their travel retail outlets ,with new openings at airports in 2022 in Berlin, Chania, Hamburg, and Rome Fiumicino. The brand has also recently opened a new store at Bologna International Airport.
With a growing Asian market, currently contributing 8% of their turnover, the brand has opened four boutiques in China since the start of 2022 and has plans for further stores for Thailand and other Asian countries. Italy is the brands largest market with 44% of total sales.
image : Coccinelle
