Stefanel FY16 revenues decline 14.4 percent

In 2016, the struggling Italian fashion brand Stefanel has said that the group’s consolidated net revenues of 134.1 million euros (145 million dollars), were down 14.4 percent against 156.7 million euros (170 million dollars) in 2015. The company said, impact of foreign markets on consolidated revenues was 65.4 percent in 2016. EBITDA for the year was negative 12,416 thousand euros (13,516 thousand dollars).

Stefanel shops sales fell by 13 percent or 11.4 percent at constant exchange rates compared to the previous year. Revenues by geographical area of the Stefanel business unit suffered the impact of foreign markets, and stood at 60.9 percent in 2016 against 59.2 percent in 2015.

In the 2016, the company opened 56 new stores and closed 54as a part of its distribution network development plan abroad, while streamlining the distribution network and focusing on best performing sales outlets that are consistent with the new brand positioning.

The Interfashion business unit generated revenues of 32.5 million euros (35 million dollars), an increase of 2.7 percent compared to the previous year, owing to the good performance of the online channel, as well as for the openings of new mono-brand stores, indirectly managed under a commercial affiliate scheme.

The company also announced that the Treviso Court has accepted Stefanel’s appeal to file for bankruptcy by May 5, 2017.

Picture:Stefanel website