The first half of 2022 was a great challenge for the Esotiq & Henderson Group. The Polish manufacturer of exclusive women’s underwear recorded in the first six months of this year. PLN 106.8 million of sales revenues (+12.6% y / y) and PLN 4.6 million of net profit (-31.6% y / y). The group managed to increase by 50 percent. y / y sales in own showrooms and maintained at a high of approx. 68% gross margin on sales. The main goal for the next quarters of 2022 is to systematically increase sales, especially via the Internet, while increasing the gross margin.
Esotiq & Henderson sums up the six months
– In the first half of this year, despite the difficult market environment, we managed to increase sales and slightly improve the gross margin on sales y / y. We also maintained this trend in the following months. Consolidated sales revenues in the period January – August 2022 amounted to over PLN 162 million and were higher y / y by approx. 17%. with a consolidated sales margin of approx. 63 percent. – Due to rising inflation, rising exchange rates, wage pressure and rising wages as well as energy costs, each season we raise the prices of our product range and regulate them in relation to the rising dollar exchange rate. Despite global disruptions, we are doing well with supply chains. At the beginning of the year, we increased the level of inventories and now we have no problem with stocking up stores – said Krzysztof Jakubowski, President of the Management Board of Esotiq & Henderson SA In the first half of 2022, e-commerce sales via own platforms amounted to PLN 16.8 million (-21.2% percent . y / y), mainly due to the return of customers to the gallery. The 77% (in 2Q22 y / y) increase in online sales in Germany is noteworthy. – We intend to put a strong emphasis on the Internet and sales by the German Zalando, where we started at the end of the second quarter of this year. and we are developing very dynamically. This sale will positively affect the result in the coming quarters. We are still working on starting sales at Zalando in Austria and Switzerland. Final works on the mobile application are underway, we intend to launch it at the turn of September and October – says Krzysztof Jakubowski, President of the Management Board of Esotiq & Henderson SA. At the end of the second quarter of 2022, the retail space amounted to 18,535 thousand. m2 (-1% y / y). The chain of Esotiq brand stores consisted of 299 stores, including 232 franchise stores and 67 own stores. The company is still looking for good-quality locations in Poland and plans to enter new markets. In the second quarter of this year. the second salon in Slovakia was opened. The company completely stopped selling in Russia, where it had one store, and suspended the operation of 9 out of 23 stores in Ukraine, which account for a small volume of turnover in sales (as of June 30, 2022).
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