Italian leather goods company Piquadro has shown notable progress in its financial performance during the first half of the fiscal year 2022-23. The company reported a loss of €0.1 million, a significant improvement from the €1.4 million loss in the same period the previous year. This positive turnaround is mainly attributed to the group’s increased revenue, which reached €80.2 million, showing a significant growth of 26% compared to H1 2021-22. Additionally, Piquadro’s EBITDA reached €10.2 million as of September 30, 2022, marking an increase of around €1.7 million.

Within Piquadro’s brand portfolio, the Piquadro brand itself experienced a revenue increase of 24.8%, amounting to €35.3 million. The Bridge brand achieved a revenue of €14.9 million, reflecting a growth of 34.3%. Furthermore, Lancel generated €30 million in revenue, showing a significant increase of 23.5%.

Moving forward, Piquadro is committed to sustaining its growth and expects to surpass previous levels of profitability. Marco Palmieri, the President and CEO of Piquadro group, expressed satisfaction with the positive results of the first six months of the fiscal year. He highlighted the substantial revenue growth across all three brands and distribution channels. The company aims to conclude fiscal 2022-23 with a consolidated revenue ranging between €170 million and €175 million, along with an adjusted EBITDA of approximately €15 million.

Piquadro’s success signifies its strong position in the leather goods market. The company’s continuous expansion and ability to generate increased revenue across all brands demonstrate its capability to meet consumer demand. With a well-defined growth strategy and positive momentum, Piquadro is poised for ongoing success in the future.

Useful links:
1. Piquadro Official Website
2. Global Leather Goods Market Report – Statista