Desigual sales fall 14.5% in first half of 2018 as it pushes forward its business transformation
The Spanish company ended the first six months of its fiscal year with a turnover of 323 million euros. The group attributes the drop to the on-going reorganization of its distribution network.
Desigual reduces its sales as it transforms its business model. The Spanish company ended the first half of fiscal 2018 with a turnover of 323 million euros, 14.5% less than in the same period of 2017.
In a statement, the company blames the drop to the on-going reorganization process of its store network. Likewise, the financial performance reflect “the moderation of sales in the main markets in which Desigual operates”, as well as the company’s investments in the transformation process initiated in 2015.
This process is based on three pillars: a product review, a new brand image and a distribution network “adapted to the new retail reality and consumer habits," explains Desigual in the statement.
Desigual posted revenues of 323 million euros between January and June 2018
In regard of e-commerce, Desigual’s goals include continuing to grow and offering a more fluid customer experience. On the other hand, the company highlights its expansion in Latin America, which registers a “positive performance”.
Desigual, founded in Barcelona in 1984, is present in nearly a hundred countries and operates with more than 500 monobrand stores, as well as the wholesale channel. The company employs more than 4,500 people.
Validation policy for comments:
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.