Good business for Gismondi 1754, a Genoese company listed on the Aim list of the Milan Stock Exchange. The Maison has published (on a voluntary basis) the consolidated management results of sales for the first quarter of 2021, broken down by geographical area and type of sales channel. Result: Gismondi 1754 reported consolidated revenues of 1.4 million euros, up 91% compared to the first quarter of 2020. The growth, for the same period compared to 2020, was supported by sales in the wholesale channel, with an increase in particular in the European area (which had a turnover of 249,693 euros in the first quarter of 2021 alone, against 26,286 euros in Q1 2020). The special sales segment also continued the trend started in previous years, passing from € 247,126 in the first quarter of 2020 to € 513,536 in 2021.
Analyzing revenues by geographic area, as of March 31, 2021, the percentage of turnover in the European area grows in percentage terms, in particular in the Swiss market, which represents 39% of revenues, followed by the Italian market, which accounts for 26%. The United States are worth 9% of total revenues, Eastern Europe (Russia and the Czech Republic) 9%, while overall the other countries account for 16%.
The results underline the strength of our brand and the ability to retain our customers, as evidenced by the significant growth in wholesale and special sales. In a complex economic phase on a global level, our strategy of focusing on tailor-made products within everyone’s reach has marked the difference, allowing us to grow despite the pandemic and to maintain close contact with the customers of the boutiques, who forcibly had to remain closed. in the first months of the year. We remain confident on the prospects and we hope that the second half, with the desirable gradual reopening to the public in the coming months, will also allow us to reinforce the contribution of direct retail, going to further consolidate our growth.
Massimo Gismondi, CEO of Gismondi 1754
“Compared to the sales figures by sales channel, in the first quarter of 2021 the data relating to sales in the Wholesale channel and the Special Sales channel stand out, representing respectively 36% and 37% of revenues”, reads a press release. “The tailor-made vocation of Gismondi 1754 is therefore confirmed and its attention to building a close relationship with the customer, which has allowed the Company to enhance its collection even in a moment of almost global lockdown”.
The restrictions introduced to combat the covid-19 pandemic had an impact on the retail division, which still recorded a growth of 38% compared to the first quarter of 2020, but which saw sales of the Sainkt Moritz and Milan stores (forcibly closed for almost the entire quarter), offset by the excellent performance of the Galata store, with revenues of € 259,432. The Wholesale Europe channel records significant growth compared to the first quarter of 2020, generating revenues for an amount of 249,693 euros. The Wholesale Middle East division, opened at the beginning of 2020, also very well, doubled the result of the first quarter of 2020 and recorded revenues of 90,129 euros. Finally, the US wholesale channel recorded revenues of € 128,591, in line with the results of the first quarter of 2020.
