Pinko, handbags and shoes to double revenue, and look towards an IPO. The brand headquartered in Faenza (Parma) has clear goals. From 213 million euro of 2019, to 500 million in 2 or 3 years. Among growth the drivers is the expansion of accessories. Leather goods are already being developed by an internal business unit. Shoes, on the other hand, will be done in partnership with Eli Factory. With regards to the financials, Pinko is looking for liquidity by getting a minority partner. The next step is the IPO.
Handbags and shoes to double revenue
Pinko closed 2022 with a revenue of 285 million euro (+18% on 2021) and EBITDA of 58 million. It plans on reaching 330 million in 2023 and 500 between 2025 and 2026. To do so, the company will strengthen its accessories and shoes’ collections. As far as handbags go, Pinko’s CEO Pietro Negra built an internal ad-hoc team. After 4-5 years, revenue from these two segments account for 33% of all sales. “We need to rebuild our business when it comes to footwear, after having made the decision to create a joint venture with Marche-based Eli Factory”, said Negra to MF Fashion.
Quality, prices and finance
The CEO also states that the revenue increase was generated by the raised price tags: “We raised it by an average 20%”, together with the improvement of the products’ quality. “It’s the direction consumers want us to take”, says Negra. The financial planning is also set. “We are thinking of opening ourselves to minority partners. Having an industrial partner that owns between 20% and 25% can facilitate us in achieving our 2026 goals”, says the manager. The next “long-term” goal is the IPO.
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