- Danielle Wightman-Stone |
Spanish fashion retailer Bimba y Lola has reported growth in all markets in both sales and profits with the release of its audited results from its last fiscal year closing on February 28, 2017, with annual sales hitting 152.4 million euros.
The fashion retailer notes a sales growth of 32 percent, adding that its global growth has been supported by a 21 percent increase in like-for-like sales in Spain. However, it’s the “steep acceleration” of its international sales, with growth above 60 percent in France and the United Kingdom that has added to its successful FY 2016.
International sales now represents 26 percent of Bimba y Lola’s total sales, with increases also coming from Chile and Korea, both up 50 percent, while Portugal, Mexico and Singapore saw growth of 20 percent last year.
This growth follows the company’s 10th-anniversary celebration and the consolidation of its international business, as well as the modernisation of the brand.
Bimba y Lola is also continuing with its international expansion plan, it currently has 226 shops, and in the up-coming months it plans to add at least 20 more in France, including its first outside of Paris, in Printemps-Lyon and Printemps- Cagnes sur Mer. There will also be new openings in the UK, Portugal, and Mexico.
There will also be growth at home in Spain with new standalone openings, as well as concessions within El Corte Inglés.