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.