Piquadro group grows 7.1% in H1

Italian leather goods group Piquadro closed the first half of fiscal 2023-24 on September 30, reporting a revenue of €85.9 million, up 7.1% over the same period in the previous year.

 
The performance of the Piquadro and The Bridge brands was on par with last year, recording a revenue of €39.5 million (up 12.2%) and €16.6 million (up 11%) respectively. Piquadro’s wholesale revenue grew 17.5%, while direct retail increased by 8%. The trend was reversed at The Bridge, whose direct retail revenue grew 24.6%, with wholesale increasing by 8%.
 
French leather goods brand Lancel reported a revenue of €29.8 million, down only 0.7% compared to H1 last year. Lancel slumped chiefly on its domestic market, owing to recent social unrest in France, where the brand generates over 90% of its revenue. Lancel’s retail sales in China were instead satisfactory, and grew 38% in the period.

Italy remained the Piquadro group’s main market, generating a revenue of €41.8 million (48.6% of the total) in H1, and growing by 12.3%, while the rest of Europe lost 0.6%, dropping to €40.7 million. In the rest of the world, the group generated a revenue of €3.5 million, growing by a remarkable 64.3%.
 
The Piquadro group was founded in 1987 by President Marco Palmieri, and is currently present in 50 countries, operating 178 monobrand stores: 85 by Piquadro (54 in Italy and 31 elsewhere), 14 by The Bridge, all of them in Italy, and 79 by Lancel, of which 60 in France.