9 March 2023
Italian leather goods business Coccinelle has reported its results for 2022, with sales up by 20% year-on-year, reports ILM.
The brand also reported gains for its retail channel of 30% while wholesale grew by 20% alongside a “significantly positive” EBITDA.
Its e-commerce business accounts for 8% of total turnover, climbing to 20% when including wholesale e-commerce. Leather bags make up 80% of sales, with small leather goods and minibags increasing to 18% in 2022.
Coccinelle’s home market of Italy accounts for 44% of total sales, with Europe making up 46% and Asia totaling 8%, where the brand reports sales are “growing consistently”. The company opened two boutiques in China in 2022, and added further openings in January 2023.