Leather goods label Lancel reports 36.4% H1 sales rise
In H1 of the 2021-22 fiscal year, closed on September 30, French leather goods label Lancel, owned by Italian group Piquadro, which is listed on the Milan Stock Exchange, recorded sales worth €24.3 million, up 36.4% compared to the same period the previous year. Lancel, which was founded in 1876, made progress across all its distribution channels.
Lancel’s sales in the wholesale channel grew by 64.3%, those generated by the label’s 80 monobrand stores, chiefly located in France, increased by 24.2%, while e-tail sales posted a significant 79.7% rise. These results need to be assessed in the light of a comparison period, March to September 2020, when business had been significantly slowed down by the pandemic and widespread store closures.
In H1 2021-22, the Piquadro Group, whose portfolio includes Lancel and leather goods brands Piquadro and The Bridge, recorded a revenue of €63.7 million, equivalent to a 31.3% increase. Piquadro’s sales in the period were €28.2 million, up by 26.2%. The Bridge instead closed H1 with sales for €11.1 million, up 33.8%.
The Piquadro group was founded by Marco Palmieri, its current president, in 1987. It is active in over 50 countries and operates 176 monobrand stores: 84 for Piquadro, 12 for The Bridge and 80 for Lancel. Of these latter, 61 are located in France and 19 abroad, and 72 are directly managed. In the 2020-21 financial year, closed on March 31 2021, the group generated a revenue of €113.5 million.
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