Home / Knowledge / News / Apparel/Garments / Mavi posts 22% revenue growth in FY19

Mavi posts 22% revenue growth in FY19

Mar '20
Pic: Mavi
Pic: Mavi
Mavi, Turkey's leading jeans and apparel brand, posted 22 per cent rise in its consolidated revenues in fiscal 2019 that ended on January 31, 2019 to TL 2.863 billion (TL: Turkish lira) compared to prior year. Net profit over the year increased 33 per cent to TL 134 million. Consolidated e-commerce revenues for the year soared 86 per cent. 
“Mavi's exceptional brand awareness levels, our uncompromising customer focus and approach to quality from material innovation to production to after-sales services enabled us to achieve significant double-digit revenue and profit growth while attracting more new customers than ever in 2019,” Cüneyt Yavuz, chief executive officer at Mavi, said in a press release.
In 2019, Mavi reported that it continued to refocus its operations towards sustainable practices, which was notably driven forward by the alignment of all departments and processes, including procurement and supply chain.
In addition to healthy retail and wholesale growth, Mavi reportedly achieved tremendous success across its e-commerce channels, including mavi.com and strategic online business associates which, together, continue to be an important driver for future growth, as company reported.
Mavi reported that industry-leading CRM programme Kartus helped it to attract 1.2 million new customers in 2019. 
“While reaching our ambitious targets and maintaining our financial discipline, we were particularly pleased to see an increase in both global transaction frequency and volume while also observing an encouraging uptick in customer traffic in our stores in Turkey, particularly in the last quarter of the year,” Yavuz said.
Mavi expects 23 per cent revenue growth in the year ahead. In Turkey, the company aims to add net 15 stores and expand 10 existing locations alongside a LFL sales growth target of 18 per cent for the full year.

Fibre2Fashion News Desk (JL)

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 5th Apr 2020

Buyers, suppliers need to find midway: Apparel exporters

Apparel manufacturers and exporters in India feel that they should...

Pic: Shutterstock

Textiles | On 4th Apr 2020

Textile-garment, retail sectors bear enduring pandemic

Extended store closures, many factories halting operations due to...

Pic: Kristi Blokhin / Shutterstock.com

Textiles | On 4th Apr 2020

World Bank Group launches 1st operations for COVID-19

The World Bank’s board of executive directors yesterday approved a...

Interviews View All

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Top executives, Textile industry

Top executives
Textile industry

Customised t-shirts is not a fad

Fabio Grandis,

Fabio Grandis

Italian company Grandis SRL has been operating in the textile industry for ...

Zennure Danisman,

Zennure Danisman

Since its inception in 1953, Orta Anadolu has been weaving a denim...

Marcel Moser,

Marcel Moser

Switzerland-based Benninger is a leading manufacturer of technologically...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

March 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search