Sep 7, 2017
Bimba y Lola first-half sales rise 24%
Sep 7, 2017
Bimba y Lola increased revenue by 24% in the first of the half year ended 31 August, and recorded sales increases across all markets, announced the Spanish womenswear company in a press release.
The overall growth was attributed to the 20% rise in like-for-like sales in Spain, as well as the brand’s growing presence in international markets. International sales now account for 29% of the total.
The brand founded by sisters Uxia and Maria Dominguez, nieces of renowned Spanish designer Adolfo Dominguez, continued to open new locations during the first six months of the financial year as part of an ongoing expansion.
Bimba y Lola has currently 225 stores in 13 countries, and plans to add at least 20 new sites in the UK, Portugal, Korea, Kuwait, Mexico, Chile, Colombia and France. It also recently opened three concessions in France through a partnership agreement with department store chain Printemps, and is eyeing further concessions in Galeries Lafayette.
The company also plans to continue growing in Spain with new standalone locations and through shop-in-shops in El Corte Ingles stores.
Bimba y Lola employs currently over 1,200 people, 12% more than it did last year.
It said it is “working towards becoming a global brand,” and will build new headquarters and logistics facilities to support this strategy.
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