Roberto Cavalli finishes 2014 on a slight high
Roberto Cavalli's growth has slowed down but was still on the rise in 2014. The luxury brand from Tuscanny, whose second line showed on the Milan runway this Thursday, has announced 209.4 million euros in revenue for 2014, up 4.2% compared to a 9.3% growth in 2013, totalling 201 million euros, it announced in a press release.
Although the results haven't been officially approved yet, the Cavalli group has indicated that it generated a gross operating profit (EBITDA) of 24.4 million euros (+8.9% compared to 2013), representing 11.7% of the revenue.
Direct sales, representing 68% of the total revenue, went up 1.2%, while for the wholesale network sales went down 4%. This decline is notably due to the crisis in Russia and unfavourable conditions, the group has specified.
For its directly run monobrand stores, Roberto Cavalli progressed 6% last year compared to 2013, mainly due to the opening of new stores, notably in Saint-Tropez, Vienna and Hong Kong and having reached its rhythm of growth with its Milan flagship in 2014. Added to these are the label's franchise stores, which include Macao and Bangkok.
On 31 December 2014, there were a total 190 monobrand stores (direct and franchise) compared to 179 at the end of 2013: 90 Roberto Cavalli, 54 Just Cavalli, 28 Cavalli Class and 17 Roberto Cavalli Junior.
In 2014, licenses also brought in very satisfying results, with an 11.6% increase in royalties, despite problems linked with the change in licensing partner for the Cavalli Class line, entrusted to Swinger International following the bankruptcy of Dressing.
The group has particularly pointed out the good performance of the Roberto Cavalli Junior license and the collection dedicated to "Roberto Cavalli Home".
Finally, the activities tied to the catering sector also continued in their expansion with the opening of two new Cavalli Club in Miami and Ibiza in 2014 and two new Cavalli Caffè in Ryad and Dubai.
The Florentine label is in the final stages of negotiations with private equity firm Clessidra for the sale of a majority stake in the group. The operation should be finalised and concluded within a few weeks. According to MF Fashion, it includes a significant restructuring plan and the arrival of Norwegian designer Peter Dundas, who is currently the creative director at Emilio Pucci.
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