Lancel, a luxury leather goods brand based in Paris, has announced a significant boost in sales for the fiscal year that ended on March 31. The company recorded sales of €60.1 million, reflecting a remarkable 26.3% year-on-year increase. Since being acquired by the Italian group Piquadro in 2018, Lancel has undertaken a repositioning strategy, revamping its product offerings and expanding its global presence.

Throughout the past financial year, Lancel experienced growth in all its distribution channels. Wholesale sales surged by 32.9%, while direct sales, including its 78 boutiques, rose by 27.9%. The brand’s e-commerce platform also witnessed a growth of 6.5%. This impressive performance showcases Lancel’s ability to meet changing consumer preferences and adapt to evolving market dynamics.

Piquadro Group, the owner of Lancel as well as other prestigious leather goods brands like Piquadro and The Bridge, also reported a substantial sales increase. In the 2021/2022 fiscal year, the group’s total sales reached €149.4 million, signifying a year-on-year growth of 31.7%. The Piquadro brand achieved sales of €64.2 million, marking a growth of 37.8%, while The Bridge, a luxury label based in Florence, saw its sales reach €25.1 million, representing a growth of 30.1%.

The COVID-19 pandemic affected different brands within the Piquadro Group to varying extents. The Piquadro brand, which primarily focuses on travel-related products, faced the greatest challenges. However, the brand’s sales growth of 37.8% indicates the success of the implemented strategy to expand its brand values and target a broader customer base. Conversely, Lancel was the least impacted by the pandemic within the group, achieving a sales increase of 26.3%.

Marco Palmieri, the CEO of the Piquadro Group, expressed his satisfaction with the growth achieved by all three brands. He emphasized the significant rise in direct sales, highlighting the trend of consumers returning to brick-and-mortar stores. The Piquadro Group currently operates 180 points-of-sale worldwide in 50 countries, further establishing its global presence.

The positive sales growth reported by Lancel and the other brands within the Piquadro Group demonstrates their resilience and adaptability in the face of challenging market conditions. With their focus on product innovation, international expansion, and meeting evolving consumer preferences, these brands are well-positioned for continued success in the luxury leather goods industry.

Useful Links:
1. Lancel Official Website
2. Piquadro Official Website