Qatar’s Le Tanneur still in the red
French premium leatherwear house of Le Tanneur owned by Qatar Luxury Group reports a 8% drop in its 2013 turnover compared to 2012, totalling 59,25 million euros. Net operational losses for 2013 amounted to 2,31 million euros compared to 1,7 million in 2012. Sales dropped by 2,9% to 28,3 million euros.
2013 was a transitional year for le Tanneur, with outsourcing of its logistics which caused some delivery delays as well as investments in retail, especially the take over of operations for franchised stores in France (Bordeaux, Nantes, Angers and Périgueux)