Qatar owned LE TANNEUR posts sales decrease of 12 percent
Fully owned by Qatar Luxury Group since 2011, premium leatherwear brand LE TANNEUR recorded a turnover of 14.6 million euros a slight increase of 0.7%, and 1.5% in the first half of 2012 to 31 million euros. Sales generated by the group’s own brands of leather goods (The Tanner, Soco, the Air France by Tanner) represent the first six months of 11.9 million euros, a fall of 12%. Activity slowed down by “the difficult economic environment” which causes a decrease of 7.5% of sales in stores The Tanneur (62 outlets in France, Germany, Belgium, Luxembourg and Algeria) and 16.6% in other distribution channels.
The Tanneur will therefore continue its strategy of improving margins by reducing so “drastic” reduction of business operations including pricing, with one objective: to strengthen internationally. The third party leather production for other luxury brands has generated 19.3 million euros, up 12.2% over the period.