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Miroglio's international presence increases in 2011
May '12
Miroglio, the leading Italian group in the textiles-apparel sector, and owner of brands that include Elena Mirò, Caractère and Elena Mirò, closes the 2011 financial year with a consolidated turnover of 1,042 million Euro, up 4.5% on the previous year, and a gross operating margin of 63.5 million Euro, down by 40% on 2010. The Group has maintained its tradition of liquidity and self-sufficiency, consolidating its net financial position.

In this context the Miroglio Group has completed the reorganization project aimed at aligning strategic lines, and reinforcing the marketing area with the introduction of the new Chief Marketing Officer and the creation of Market Development Organizations in China and Russia. Moreover, the Group has strengthened its commitment to projects designed to recruit and promote creative potential and talent in fashion.

In 2011 the Group made investments totalling 70.3 million Euro, including €53.8m in the fashion sector mainly aimed at the growth in sales stores. Overall, the number of Clothing Division shops increased over the course of the year by 70 units, 50 of which were abroad and 20 in Italy.

To be noted is the important agreement made with the Sinterama Group following the closure of the 2011 financial year for the restructuring of the filament yarn area and the setting up of two new companies to which Miroglio Textile and Miroglio Bulgaria will be transferring the main assets and liabilities relating to the business.

As befits a Miroglio Group company, Miroglio Textile manufactures, markets and sells a broad array of articles spanning the entire spectrum of the textile from yarns and plain or printed fabric, to finished fabrics, screen, digital and transfer paper design and manufacture. Miroglio Textile also operates in the sectors of architecture, interior design and leather goods, creating and bringing to the market versatile and innovative foils and technical film.

Miroglio Group

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