Piquadro posts increase in H1 turnover

Leather good company Piquadro S.p.A., having Piquadro, Bridge, and Lancel brands under its portfolio, recorded turnover of 85.9 million euros, an increase of 7.1 percent or 8.1 percent at constant exchange, in the first half period of this fiscal year.

Piquadro’s H1 results across brands

The company said in a statement that Piquadro brand revenues amounted to 39.5 million euros, an increase of 12.1 percent or 13.5 percent at equal exchange rates. The wholesale channel increased 17.5 percent, while the DOS channel recorded growth of 8 percent or 12 percent at constant exchange.

Bridge brand revenues amounting to 16.6 million euros, increased 11 percent. The wholesale channel increased 8 percent, while the DOS channel recorded growth of 24.6 percent.

The sales revenues achieved by Lancel in the first six months amounted to 29.8 million euros, a slight decrease of 0.7 percent or increase of 0.8 percent at constant exchange rates. The performance was affected by the recent protests in France, particularly in the first quarter of the year as well as the closure of some sales points.

The company added that the reopening of the Asian market saw an increase in sales of Chinese stores to approximately 38 percent or 53 percent at constant exchange rates.

Highlights of Piquadro’s performance across markets

From a geographical point of view, the Piquadro Group recorded a turnover of 41.8 million euros, an increase of 12.3 percent compared to the same period of the 2022/2023 financial year.

In the European market the group recorded a turnover of 40.7 million euros, slightly decreasing by 0.6 percent or an increase of 0.9 percent at constant exchange rates.

In the rest of the world, the group has recorded a turnover of 3.5 million euros, up by 64.3 percent or 73.3 percent at constant exchange rates.