Calzedonia Group 2021 Sales Climb 29.1%, Surpass 2B Euro Mark
MILAN — Italy’s Calzedonia Group grew sales and profitability in 2021 as it continued its international expansion.
The group, which includes the Calzedonia, Intimissimi, Tezenis, Falconeri, Atelier Emé and Signorvino brands, on Wednesday reported 2021 preliminary revenues of 2.5 billion euros, up 29.1 percent compared with 1.94 billion euros in 2020. Compared with 2019, sales increased 3.9 percent.
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In the 12 months ended Dec. 31, earnings before interest, taxes, depreciation and amortization climbed 43.1 percent, totaling more than 760 million euros, compared with 531 million euros in the previous year.
The group has been expanding beyond Italy for years and exports now account for 56 percent of total sales. Last year, it opened 176 additional stores, of which 139 were abroad.
As of Dec. 31, the group counted 5,076 stores, of which 3,288 outside Italy.
Sandro Veronesi, chairman of the group, said investments totaled more than 160 million euros, to strengthen and renovate its retail channel and increasingly integrate its e-commerce platform, and also channel funds into logistics and production, “in avant-garde technologies to always maintain our plants innovative.”
The group is now present in 55 countries and it plans to pursue a strategy of consolidation in the main European markets, while continuing to open stores in the U.S., added Veronesi.
Cashmere specialist Falconeri continues to strengthen its presence in Italy and abroad, while six Signorvino wine shops and restaurants were opened last year.
In 2022, the development of Intimissimi Uomo will continue as will the activity of requalifying and revamping the existing stores of innerwear, hosiery and beachwear brands Calzedonia, Intimissimi and Tezenis.
Last year, as reported, Calzedonia and Intimissimi opened four new retail locations on the West Coast of the U.S.: two sets of side-by-side Intimissimi and Calzedonia stores, one located in Torrance, Calif., and another in nearby Cerritos, Calif.
The company, which is based in Verona, Italy, entered the U.S. market in June 2017 with its Manhattan flagship. With the additional California stores, there are 50 retail locations in the U.S. between the two brands.
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