Bimba y Lola sales increase 13 percent in 2014

Spanish fashion firm raised its revenues by almost 14 percent during its last fiscal year, with annual sales amounting to 98.5 million euros from 1 March 2014 to 28 February 2015.

The company reported as an increase in turnover of 13.7 percent over the previous year.

Profit before taxes came in at 10.6 million euros, up 10.8 percent, while the fashion company founded by Adolfo Dominguez nieces raised its like for like sales up 5.7 percent.

International sales now account for 25 percent of total

The international business of the company grew by 30.6 percent and now represents a quarter of the company, which has 192 outlets in 19 countries, with a workforce of 785 employees. Of this total, 77 percent belong to Spain, where the workforce grew by 18 percent in 2014, and 70 percent are permanent workers.

South Korea is one of the capital markets for the Galician textile firm, which wants to open up to 25 outlets in five years markets. UK, with three openings planned in London before the summer, is another pillar of its international expansion plan.

France and Belgium will also see a greater number of stores Bimba y Lola, as the company plans to implement the Spanish model and branch out through the entire country.

In this sense, the fashion chain explained at its results presentation that, as in previous years, all financial resources have been devoted to international expansion with the dual objective of consolidating itself as a global brand in its segment and grow annual sales sustained double-digit rates.