Lancel, a luxury leather goods brand based in Paris, has achieved remarkable sales growth of 26.3% for the fiscal year ending on March 31. This growth serves as a testament to the brand’s successful repositioning efforts and its expansion into international markets.
Since its acquisition by the Italian group Piquadro in 2018, Lancel has been working diligently to revamp its product offerings and strengthen its presence in the global market. These endeavors have paid off, as all of Lancel’s distribution channels experienced growth during the previous financial year.
Wholesale sales witnessed a substantial increase of 32.9%, while direct sales, including those from Lancel’s 78 boutiques, saw a remarkable growth of 27.9%. Additionally, e-commerce sales experienced a modest increase of 6.5%. These figures reflect Lancel’s ability to connect with customers through various channels and effectively cater to their demands.
The Piquadro Group, which encompasses brands like Piquadro and The Bridge, has also experienced substantial growth. In the 2021/22 fiscal year, the group achieved sales amounting to a staggering €149.4 million, indicating a year-on-year increase of 31.7%. The Piquadro brand alone achieved impressive sales of €64.2 million, representing a remarkable growth rate of 37.8%. Similarly, The Bridge witnessed a sales increase of 30.1%, reaching €25.1 million.
Marco Palmieri, the CEO of the Piquadro Group, expressed pride in the successes of both the Piquadro and Lancel brands. Despite being heavily impacted by the pandemic due to its emphasis on travel-related products, the Piquadro brand showcased outstanding sales growth of 37.8%. This growth can be attributed to the brand’s strategic efforts to broaden its values and adapt to evolving consumer preferences.
Meanwhile, Lancel’s commendable 26.3% rise in turnover underlines the brand’s resilience during challenging times. The brand has triumphed over adversities and continued to attract customers with its exquisite range of high-quality leather goods.
Palmieri also emphasized the significance of the growth witnessed in the direct sales channel for all three brands. This trend signifies a shift in consumer behavior, with more individuals returning to in-store shopping. This is a positive sign for the retail industry, indicating a recovery from the disruptions caused by the pandemic.
Operating in 50 countries with 180 points-of-sale worldwide, the Piquadro Group has achieved immense success in the global market due to its strategic brand positioning and its ability to adapt to changing consumer preferences.
In conclusion, Lancel’s impressive sales growth serves as a testament to the brand’s dedication to innovation and its commitment to meeting the needs of its customers. With its strong performance and the support of the Piquadro Group, Lancel is well-positioned for continued success in the fiercely competitive leather goods market.
