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Feb 6, 2023
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Ternua Group grew by 10% in 2022 and expects to achieve 35 million euros in sales this year

Translated by
Feb 6, 2023

Ternua Group, a Spanish textile company based in Arrasate and owner of the Ternua, Lorpen, Astore, Loreak Mendian and Ternua Workwear brands, closed 2022 with a turnover of 31.5 million euros, a year-on-year increase of 10%. For 2023, it expects to return to double-digit growth and thus achieve a turnover of 35 million euros.

Ternua store in San Sebastian to be opened by the group in 2022 - Ternua

"We have been very pleased with this year's results. It has been difficult for the entire sector, especially during the last stretch, due to the weather and problems in the supply chain, but we have an increasingly efficient operating capacity and a sustainable approach that is being very well received," Jokin Umerez, the group's general manager, told FashionNetwork.com.

In 2022, the company's international sales were one of its growth drivers, increasing by 29%. "France, Italy and the Germany-Austria-Switzerland axis are, along with the United States and Canada in North America, and Japan and Taiwan in Asia, our main international markets," said the Ternua Group, which has over 2,000 points of sale in more than 50 countries.

"France is our second largest market after Spain, and we have always had a strong relationship with the country. Our strategy this year will be to continue growing in Printemps, Galeries Lafayette and in wholesale," said the CEO of Ternua Group. One of the company's brands, Loreak Mendian, can also be found in the Parisian department store La Samaritaine.

The online channel accounted for 9% of the company's sales in 2022, while retail brought in 5 million euros in turnover. The group's milestones in the last fiscal year include the opening of the first store of its outdoor brand, Ternua, in San Sebastian, as well as the launch of six new corners in El Corte Inglés, where it now has 37 spaces, both for Ternua and Loreak Mendian.

"This 2023 we will open four more corners in El Corte Inglés. And, although we are not planning on strategically opening new stores, we do want to strengthen our relationship with the retail channel and promote our points of sale that are already up and running," said Umerez.

Loreak Mendian grew by 37% and Ternua Workwear gained momentum

Although Ternua Group does not break down turnover by brand, it did state that its fashion brand, Loreak Mendian, increased its sales by 37% in the last financial year and that, in 2023, it will return to double-digit growth, according to forecasts.

Progress in the fashion category will be one of its growth drivers, together with the retail channel, its ongoing expansion into foreign markets and the launch of Ternua Workwear, a brand specialising in outdoor wear for people who spend their working days outdoors.

"We believe there is a market opportunity for us in which to develop by offering quality, functional products that are also sustainable," said Umerez. Ternua Workwear products are available, for the moment, only in Spain and through the business-to-business channel, distributed exclusively to companies looking for work gear.

2022 was also an important year for the company, which was recognised as SME of the year at the Euskadi Avanza Awards and won four awards at the ISPO Awards, granted by the German trade fair Ispo, a leading international event in the sports sector.

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