Handbags and leather goods. Four companies show that the numbers for 2023 prove they year was a growth one for the fashion industry. From the luxury segment of Valextra to the medium segment of Mandarina Duck, through Piquadro and Coccinelle.
Valextra’s 2023
Valextra doesn’t post its revenue. But its CEO Xavier Rougeaux told MF Fashion to have archived 2023 with a “26% growth at constant rates”. Last year, the revenue of the company owned by Neo Capital was estimated at around 60 million euro, with an export quota of about 80%. Production is mostly done in Italian companies located in Veneto, Tuscany and Marche. “We will work on soft leather product lines while strengthening small leather goods for the travel and mobility segments” said Rougeaux’s.
Piquadro and Coccinelle
Piquadro ended its fiscal year (on March 31st) with a revenue of 180.3 million euros, up 2.7% from the previous year (3.6% at constant exchange rates). Looking at individual brands, Piquadro generated a revenue of 81.5 million (+6.9%); The Bridge 34.1 million (+10%) and Lancel 64.7 million (-5.4%). Coccinelle, after experiencing a 12% increase during 2023, aims to surpass 100 million in 2024. The Korean-owned brand E-Land does not disclose figures due to company policy. COO Emanuele Mazziotta told MF Fashion that he expects 2024 to be a record year, with double-digit sales growth over 2023. Handbags today account for 70% of the business, while small leather goods around 22%.
E-Land brands
E-Land also owns the Mandarina Duck brand and manages it for all markets, except South Korea. Regarding the businesses it controls, E-Land reported that the brand closed 2023 with 33 million euros in sales and a projection for 2024 of 35 million. The domestic market generates 39% of said revenue, the German one 26%. From 2010 to 2019 it always closed with a loss. Decisive was the refinancing of ownership, now Mandarina Duck is back to generating profits. “Relocating production is necessary to grow at the volume level we need, while maintaining affordable selling prices,” said Cristina Mazzero, the brand’s sales manager, to Fashion Network. She also explains how the products are distributed in Korea by a company not owned by E-Land. Sales in Korea in 2023 were 33 million.
