Bimba y Lola Strengthens Board with Former Kenzo CEO, Following Stable Sales in 2023

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Bimba y Lola Strengthens Board with Former Kenzo CEO: In 2023, Bimba y Lola maintained a consistent level of sales. Sales for the most recent fiscal year came in at 227 million euros, up a little over 1% from the previous year, for the Galician fashion house. At 44% of total revenue, international sales continued to play a crucial role in the company’s operations.

Bimba y Lola Strengthens Board with Former Kenzo CEO

“Stabilization has been the hallmark of 2023. Bimba y Lola has, according to CEO José Manuel Martínez, “successfully solidified its presence in key markets despite a challenging environment.” The company has achieved this by concentrating on improving store operations, digital channels, supply chain efficiency, and the integration of its activities at its new headquarters in Vigo.

Online sales for Bimba y Lola increased by 7% from 2022 levels, while sales at the company’s physical stores increased by 2%. Additionally, the business said in its financial report that contributions from discount channels focusing on items from prior seasons had decreased.

The Galician company’s online presence reached 50 nations by the end of 2023, and it had 290 points of sale in 28 markets. The openings on Regent Street in London and Aventura Mall in Miami were the crown jewels of its retail expansion in the last fiscal year.

In addition to increased revenues, Bimba y Lola highlighted the continued investment levels from the prior year, which are directed towards initiatives to build the brand over the long term. Key components of its investment strategy for the current fiscal year include expanding internationally, advancing technology, and consolidating activities at its new headquarters.

The nomination of Sylvie Colin to the company’s board of directors was announced simultaneously with the announcement of financial results, marking a significant structural shift. Notable companies that Colin has presided over include Kenzo, Maje, and Caroll Paris.

“We are delighted to welcome her to our team as we transform Bimba y Lola into a global brand,” said the chief executive officer.

Ethan Sullivan

Ethan's penchant for the pulse of the fashion world extends to covering lifestyle topics, offering readers a seamless blend of the latest style updates and lifestyle trends.

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