With a current market share of around 12% in China, Brunello Cucinelli aims to further expand this figure in the next five-year plan.
The company is consistently increasing investment in its design department, remaining committed to local production in Italy, and collaborating with textile education institutions to enhance artisanal textile craftsmanship.
On March 14 after the financial report was released, the stock of Tod’s Group rose accordingly. As of the close, the stock price rose by 7.02% to 36.28 euros compared with the previous trading day.
The Asia-Pacific region saw a 1.7% YoY decline due to COVID-19 control measures in China, but rebounded with growth in the second half of the year.
In 2022, Safilo’s net sales amounted to €1,076.7 million, up 11.1% at current exchange rates and 4.2% at constant exchange rates compared to €969.6 million recorded in 2021.
IEG will continue its Southeast Asia development plan with the support of the Singapore Tourism Board.
According to analysts at JPMorgan, this deal signifies Arezzo’s shift towards positioning itself as a potential global shoe powerhouse.
The group is planning new acquisitions in the manufacturing and retail sectors to maintain the business performance and strengthen its internationalization.
The group said, the goal is to reach nearly 50 million euros by 2025 and at least more than 2600-27 million euros by 2023.
On the following analyst’s call, , Chief Executive Officer and General Manager Marco Gobbetti said sales in mainland China at the start of the year were also encouraging.
