s.Oliver reports turnover of €1,478 bln

Reporting a growth by 12.1 per cent to €1.2 billion,

the fashion company s.Oliver reported its fiscal year 2011. The compiles turnover of all brands rose to €1,478 billion by 14.9 per cent.

Of the total company’s revenue, brand’s wholesale business contributed 52.8 per cent, whereas retail accounted for 33.7 per cent. Thomas Steinhart, CFO of the s.Oliver Group, commented, “In 2011, we again relied on our long-term partnerships with customers and suppliers. Together we approached the changes that we’ve successfully implemented. That is why in 2012, we’re continuing to invest in our products, markets and sourcing processes.”

Following opening its first shop-in-shops in Indonesia in February 2011 and with franchise stores in Finland and Sweden, s.Oliver’s export rose by 27.2 per cent. Revenue generated from e-commerce too saw an increase it is expected to mark another two-digit sales growth in 2012.

s.Oliver’s recently opened 41 stores at strategically chosen locations and two franchise takeovers are believed to have been the backbone of its strong performance.