Ecco’s revenues exceed 1.3 billion euros (+2.6%) in 2018 record year, yet the group fire 200 employees

In 2018, Danish Ecco group achieved an outstandingly good performance: in fact, sales reached 1.31 billion euros (that is, +2.6%, compared to 2017) and profits before tax amounted to 201 million euros, therefore increasing by 9.1%. The group announced the retail channel went up, throughout the year, by 10%, while the online one enjoyed a boost by 36%. From a geographical point of view, in North America revenues increased by 13%, while in Asia they grew by 11%. Despite such brilliant performance, in the same year the number of employees has decreased: the group currently hire 21,300 workers, whereas there were 21,500 of them in 2017. “Our employees are very happy to see that their hard work, alongside their passion, are well rewarded thanks to such a positive accomplishment, especially considering that retail sales have been dealing with a difficult situation while facing several challenges”, remarked Steen Borgholm, chief executive officer of Ecco. Looking at 2018 highlights, the company emphasized their use of hides tanned through the DriTan system, which aims at reducing water consumption. Ecco Leather, founded in 1994 and headquartered in the Netherlands, with a few investments in Thailand, China and Indonesia, belong to Ecco group. Their activity, which proves to be an important sector for the group, is continuously expanding to become, as highlighted by the Danish corporation, “one of the most innovative leather-tanning groups in the world”. Furthermore, speaking about production, they pointed out, in the company’s annual report, that Ecco implemented three new product lines in Vietnam to cope with rising costs.

Picture provided by the company

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