Lancel, the leather goods label based in Paris, is celebrating a return to profitability following its acquisition by Italian group Piquadro four years ago. In the fiscal year 2021/22, which ended on March 31, Lancel recorded a net profit of 400,000 euros, a striking improvement from the net loss of 2.2 million euros the previous year. This is particularly impressive considering the significant losses of 7.8 million euros in 2020 and 12.8 million euros in 2019.

The key factor behind Lancel’s success is its remarkable sales growth of 26.3% compared to the previous year, achieving a total of 60 million euros in sales for fiscal year 2021/22. These sales accounted for 40% of Piquadro’s overall sales, which also includes the renowned leather goods brands Piquadro and The Bridge. Piquadro itself experienced an impressive sales growth of 31.7%, amounting to 149.4 million euros in fiscal year 2021/22. Additionally, its Ebitda (Earnings Before Interest, Taxes, Depreciation, and Amortization) surged from 10.5 million euros to 25.3 million euros over the same period.

Piquadro’s sales were primarily generated in Italy, comprising 46.4% of the total sales, followed by Europe at 50%. The remaining 3.6% originated from foreign markets. With Lancel’s newfound profitability, Piquadro is now directing its focus towards expanding Lancel’s export business. Currently, Lancel boasts 78 boutiques, with approximately 60 located in France. However, the brand is particularly interested in tapping into the Chinese market. Lancel entered China in 2019 through Tmall and has recently opened a shop-in-shop at Galeries Lafayette in Beijing.

The success of Lancel can be firmly attributed to Piquadro’s strategic efforts in repositioning the brand over the past four years. By targeting export markets and implementing expansion plans in China, Lancel is well-equipped for further growth and improved profitability.

Additional Information:
To learn more about Lancel’s success story, please visit the official Lancel website: https://www.lancel.com/

For further information on Piquadro and its portfolio of prestigious leather goods brands, visit the official Piquadro website: https://www.piquadro.com/en