Italian company Fashion Box, which owns denim brand Replay, said it saw revenues rising 10.3% to €262.3 million during 2019. It also saw a 30% surge in EBITDA at €28 million, which represents 11% of its total turnover.
The company described the result as a sign of “a healthy and growing Italian business” with its exports accounting for 89% of its total turnover.
Treviso-based Fashion Box is nearly 40 years old and operates in more than 50 countries in Europe, the Middle East, Asia, Latin America and Africa. Its wholesale distribution network includes 4,000 stores, plus 105 single-brand stores and 125 corners and shop-in-shops.
But while it’s present in multiple continents, Europe still accounts for 73% of its turnover. During the year, it saw growth in all markets but above-average performance in Southern Europe (+8.1%), Asia (+10.6%), Eastern Europe (+36%), and especially the Middle East (+49%). This was due in part to the “excellent performance of the Israeli market on all sales channels”.
The company also said that wholesale grew by 14.1%, retail, like-for-likes by 6.4% and e-commerce by 8%.
CEO Matteo Sinigaglia said the result was “in line with our expectations, with significant improvements in all the parameters of the previous year”.
And he added that while the firm is “preparing to face an extremely difficult 2020 due to the ongoing pandemic, we are determined to implement the path already undertaken in terms of product innovation and to invest adequate resources to communicate our brand values to end customers. We are working to ensure we will be ready to go as soon as we are given the go-ahead.”