Handbag maker Antichi Pellettieri announces preliminary results for 2006

07 Feb '07

3 min read

Preliminary 2006 Revenues:
The preliminary results of Antichi Pellettieri SpA for the year ended December 31, 2006 indicate total revenues of € 257.5 million, reflecting 68% growth (+30% organic) from €153.6 million generated in 2005 and confirming AP's leading position in the European accessible luxury goods market.

The 30% organic revenue growth was primarily driven by the Group's:
• Strong performance in emerging luxury goods markets (+34%) including Russia, Eastern Europe, Middle and Far East, which today account for over 38% of revenues, and by a strong performance in Italy (+28%) which today generates 40% of Group revenues.
• Increased revenues from Direct distribution channels (+40%) which today account for over 60% of Group sales. Direct distribution channels include direct wholesale customers as well as the Group's store network (Directly Operated Stores and Franchisees) which today accounts for over 17% of revenues.
• The handbag, accessories, and footwear division which today represents over 92% of Group revenues realised 31% organic growth during the period, benefiting from the particularly strong performance of the Baldinini, Francesco Biasia, and Braccialini brands.
• Baldinin's revenue growth was driven by Russian, Eastern European, and Asian markets as well as by the optimal performance of its boutiques, and the important contribution from the men's and the casual footwear lines.
• Francesco Biasa's revenue increase is primarily attributable to the brand re-positioning effected in 2005 and the successful introduction of a smaller accessories collection.

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