Damiani for 2014 has increased in consolidated revenues from sales by 4.3% at current exchange rates (150.4 million). It’s a confirmation of a “solid and lasting growth” in the retail segment (+ 7.2%), which accounts for about 41% of total revenues. The profit is not there yet, but the losses were significantly reduced to 3.5 million against 8.6 in the previous budget. The board of directors of the group of Valenza approved the draft budget (which was closed on 31 March 2015). It improves, especially, the profitability: Ebitda (gross margin) consolidated exceeds 4 million euro (0,3 million euro in 2013). Apparently business is good, especially for single-brand Damiani, that between Italy and abroad, grew by 25%. In the wholesale segment also performed well (wholesale) most adversely affected in the past by the consumption crisis, it made a recovery with revenues up 2.4%. Damiani manages 54 direct points of sale, including 41 single brand. Investments around the world have, however, worsened the debt, which rose to 50.5 million against 40.8 at March 31, 2014: one overcooked inevitable if the company wants to support the expansion in markets outside the borders. An example is the project Damiani Ginza Tower, which is the transformation of a nine-storey building, located in the central Chuo-street of the Ginza district in Tokyo. In the building will be located the new Damiani boutique and a VIP room, which will occupy four floors of the building and the offices of the Japanese subsidiary of the group. The conclusion of the work of construction and the opening of the boutique is scheduled for the summer. Federico Graglia
