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French clothing firm Damartex FY21 sales up 11% to €764 mn
23 Jul 21 2 min read
Damartex, a French company specialising in clothing, reported 11.4 per cent sales growth to €764.2 million in FY21 ended on June 30, 2021, against €686.2 million in the previous fiscal. Despite the sale of Jours Heureux brand and discontinuation of La Maison du Jersey and Delaby, the company’s Fashion, and Home & Lifestyle divisions showed good resilience.
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“In an unprecedented environment, the group successfully continued to implement its "Transform To Accelerate TTA 2.0" transformation plan. The strong growth in e-commerce of 47.0 per cent to €137.9 million, the development of new markets in the Healthcare and Home & Lifestyle divisions, and the turnaround in the Fashion division as a result of the ongoing modernisation of the brands, confirm the strategy undertaken,” the France-based manufacturer, said in a press release.
Sales from Fashion division surged 11.0 per cent to €555.1 million. Over the year, Afibel brand remained stable especially in Q4 with growth of 19.3 per cent, benefiting from the initial effects of its repositioning and a new commercial strategy in England, according to the company.
Moreover, Home & Lifestyle division sales in FY21 grew 8.3 per cent to €177.7 million, driven by strong performance of Coopers of Stortford brand, whose business grew 43.3 per cent over the year. Vitrine Magique also improved its sales in France, with an increase of 16.7 per cent.
Fibre2Fashion News Desk (JL)
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