Italian beauty brand Kiko Milano has reported remarkable growth in 2022, with a revenue of €671 million, representing a 42% increase from the previous year. The company’s EBITDA also tripled to €75 million, showing a 30% rise compared to pre-Covid levels. Kiko Milano, owned by the Percassi group, has set its sights on achieving a net revenue of €1.25 billion by 2027 and has ambitious plans to expand its store network to 2,000 locations. To realize these goals, the brand intends to enter new markets in Asia, Latin America, and Africa.

To kickstart its expansion strategy, Kiko Milano plans to launch 120 new stores by the end of 2023, bringing its total number of locations to over 1,100 across 75 countries worldwide. Additionally, the brand will introduce a new unified commerce platform in the second half of this year. This platform aims to integrate all of Kiko Milano’s channels and systems, enhancing the customer experience and boosting efficiency and growth potential, as stated by Simone Dominici, the CEO of Kiko Milano.

Throughout the previous fiscal year, Kiko Milano achieved impressive growth in all regions and customer segments, surpassing its pre-pandemic performance. The brand’s success can be attributed to its brand elevation strategy, which prioritizes innovation and service over heavy reliance on promotional activities. This strategy has resulted in a double-digit yield per square meter.

Kiko Milano experienced significant sales growth in America, with a 55% increase. Brazil witnessed a doubling of revenue, while the USA saw double-digit growth driven by the e-commerce channel. The brand’s entry into new markets in Central America, such as Martinique, El Salvador, and Honduras, also contributed positively to its performance. In Europe, Kiko Milano’s business improved by 46%, with substantial growth in France, Spain, Italy, and the UK. The brand’s revenue in Asia grew by 21%, compensating for the impact of the Covid-disrupted Chinese market with growth in the Middle East and new markets like Thailand and the Philippines. Kiko Milano also made a successful debut in Africa, entering Egypt and Morocco and achieving twice the expected results.

With its impressive growth and expansive plans, Kiko Milano is positioning itself as a key player in the beauty industry. The brand’s focus on innovation, service, and global expansion will undoubtedly contribute to its future success.

Useful Links:
1. Kiko Milano Official Website
2. Kiko Milano Korea Official Website