Piquadro grows thanks to Europe, Il Bisonte thanks to the USA. But the common denominator between the two leather goods companies specialized in products for men, is the return to physical retail points, as pointed out by Marco Palmieri, CEO of Piquadro. For Il Bisonte, on the other hand, the same point is proven by the revenue made in the New York store, where sales increased by 57% compared to the previous year.
Piquadro and Il Bisonte celebrate returning to stores
Piquadro improves profitability
Piquadro Group’s consolidated revenue in the first six months of the current fiscal year (April-September) was 80.2 million euro, +26%. As far as brands go: Piquadro +25%, The Bridge +34% (on the left in photo), Lancel +23%. What satisfies investors the most are margins. The semester closed with a loss of just 100,000 euro, compared to the 1.4 million loss of last year. “We close the first semester with decisively positive results”, says the group’s CEO Marco Palmieri. “With reference to revenue, we recorded strong increments for al three brands and all channels. Specifically, direct retail points and wholesale, proving that customers want to go back to making purchases inside stores. We plan on closing the 2022-2023 discal year with a revenue of between 170 and 175 million euro (compared to the 149 million of the previous year)”, concludes Palmieri.
Il Bisonte takes off in the USA
Il Bisonte (in photo, on the right) estimates to close 2022 with a turnover of 80 million euro, compared to the 70 million of 2021. This company, which makes all its products with leather tanned in Santa Croce sull’Arno and Ponte a Egola, recorded an 82% increment in sales in the USA. The country generates 4.7 million euro in revenue, out of the 80-million total (source: Fashion Network). The store in New York this year increased sales by 57% compared to the previous year. The brand was acquired in 2019 by Japanese enterprise Look Holdings Inc.