Italian knitwear firm Cifra expects 31% rise in turnover by year end

28 Jul '21

2 min read

Pic: Cifra

Italian hi-tech knitwear company Cifra has closed the first half of 2021 at €6.1 million with a 29 per cent increase in turnover over €4.7 million recorded in the same period in 2020. The company expects the turnover to rise by 31 per cent by the end of this year due to an order backlog. Its sustainable products account for 30 per cent of its total turnover.

Twenty-five per cent of the company’s turnover comes from Italy, while the rest 75 per cent comes from abroad, Cifra said in a press release. It also experienced stability throughout the pandemic.

Additionally, eco-sustainable products account for about 30 per cent of Cifra’s total turnover, and the increase over last year was more than 200 per cent.

“Despite the physiological decline in turnover due to the various lockdowns and consequent drops in consumption on a global scale, financial flow was satisfactory thanks to innovation increasingly oriented towards eco-sustainable products, and to the endurance of the sport-outdoor sector, in part also due to the production of anti-viral items. I am optimistic and foresee that a rebound from these first six months will allow for complete recovery of the pre-COVID numbers by the end of 2021,” said Cesare Citterio, CEO of Cifra.

The eco-sustainable offerings by the company include recycled products (Econyl, Renycle and Qnova), biodegradable (Amni-soul eco), and natural products (Merino wool and Tencel).

Fibre2Fashion News Desk (KD)

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