Damiani posts 5% sales increase
Italian privately owned luxury jeweler Damiani reports for the first 9 months of fiscal 2014/2015 revenues up 5% at constant exchange rates, at a total of 115.4 million euros. Retail sales were up 6.3% (58 mono-brand stores in operation at 31 December 2014) and 4.2% for the wholesale channel. Still negative, but in recovery (+ 61.6%), the consolidated net income was equivalent to 1.4 million euro.
The net financial position was negative by 50.2 million (40.8 million at March 31, 2014), “as a result of seasonality and investments made in the period,” as it said in a note.
Among the events of the nine months the highlights included the launch in October of the Metropolitan Dream collection by H. Nakata, carried along with former footballer, the celebrations of the 90th anniversary in October and November, a gala on November 4 in Taipei with Sophia Loren as godmother, exposure of 18 winners of Damiani jewelry Diamonds International Awards in London November 28, the start of the e-store in December, the opening of a store in Milan Malpensa at year end.