Calzedonia’s Profits Skyrockets

Profits soared by 82% in 2016, reaching 208 million euros compared to 114 million euros in 2015. The Italian group that owns Calzedonia along with other brands like Intimissimi and Tezenis, reports a colossal turnover of 2,218 million euros, 5.4% more than the previous year.

The Italian retailer has seen a steady growth for all of its global brands, however, Calzedonia’s profits have skyrocketed with record-breaking sales of 705 million euros compared to Intimissimi that sold 665m, Tezenis 566m and Faconeri 61m.

Calzedonia kicks off 2017 with a celebration of successful 30 years in business, ploughing plans to continue to expand internationally with the opening of a dozen new stores in New York and its first outlets in Shanghai, China. When interviewed by FashionNetwork.com, the group’s chief executive officer, Sandro Veronesi, said: “In April we will open a Shanghai store showcasing our historic labels Calzedonia and Intimissimi. It will be our first store in [Mainland] China, part of a project for a further series of openings in the country, where Calzedonia is popular. We already have a retail presence in Hong Kong and Japan, and expansion in China will be a key step forward for our growth in Asia."

Announcing its US venture, Vernonesi added: "We recently opened a pilot monobrand store in the New York area, where in 2017 we plan to have ten stores with the Calzedonia and Intimissimi brands. We are keen to test a market where competition is very strong.”

With over 4,000 stores (2,400 outside Italy), the Calzedonia group has more than 32,000 employees worldwide. In 2015 alone, it secured a revenue of over 2 billion euros, a 9.3% rise compared to 2014.