Desigual reports FY12 after tax profit of 77 million euros

Quirky Spanish fashion brand Desigual has closed 2012

with a yearly profit after tax of 77.15 million euros (11 percent of its revenue, which amounted to 701.4 million) as the Catalonian fashion retailer revealed earlier this week.

After tax profit for fiscal year 2012 for Desigual came at 77.15 million euros, with sales rising by 24 percent to 701.4 million euros. For the current exercise the company expects to rise between 15 percent and 20 percent more, reported ‘Expansión’.

Growth was driven by the brand rapid expansion. The retailer opened 72 stores in 2012 (53 owned and 19 franchise) and first opened in Russia and Japan and strengthening its presence in markets such as Latin America and Middle East.

Desigual investments in 2012 exceeded 89 million and were mainly allocated to enhance its footprint, as well as to improve its new corporate headquarters in Barcelona and its logistics centres.

Last year was affected by the departure of CEO Manel Adell. Desigual president, Thomas Meyer, bought the 30 percent stake that had belonged to the company management until then.

2012 was a year of changes for the company, which has now completed the transfer of all its companies to Spain. Back in January, Desigual launched a new societal structure to transfer all its operations from Holland to Spain. The last step was the creation of a matrix that encompasses the subsidiaries, highlighted ‘Cinco Días’. The now consolidated Desigual Abasic societies are based in Barcelona.