Lotto Sport sales near $100 million
Lotto Sport Italia’s sales for 2000 reached $98 million, with a pre-tax profit of $5 million. During the second half of the year, turnover was up by 19 per cent compared to the same period in 1999, with a 15 per cent growth in Italy and a 23 per cent growth abroad. Profits during 2000, however, did not match those of the previous year due to significant investment aimed to boost company development and brand consolidation around the world.
Lotto Sport has now completed a major restructuring which includes the opening of a trading centre in Hong Kong designed to co-ordinate the entire apparel manufacturing operation, the transformation and transfer of the French distribution company, and the restructuring of its presence in Germany.
President Andrea Tomat said that the company’s medium term aim is to ensure an average pre-tax profit of 8-10 per cent, and to achieve some $220 million's worth of sales worldwide in 2003. Total sales in 2000 - including sales by licensees around the world - amounted to $162 million with the company anticipating that sales could exceed $176 million this year.
So far, 2001 is looking profitable with figures for April up 14 per cent - a 30 per cent increase on last year. The autumn/winter 2001 sales campaign has produced satisfying results, with increases in orders of 18 per cent and 15 per cent respectively on the same period last year. Sales are split into 40 per cent footwear, 55 per cent apparel, and 5 per cent accessories. Company forecasts predict strong growth in footwear, which in time is expected to grow to 50 per cent of sales.
