The 2017 of Fope shines thanks to the success of Prima collection and sales in the US and Europe. New investments planned ♦ ︎
Prima is ok. In the sense of Prima collection by Fope. In fact, the Prima jewelery line, presented in 2017, had the merit of increasing the company’s revenues by 20%, without cannibalizing the other collections. The data was communicated to an audience of financial analysts in Milan, during the presentation of the economic results of the jewelry company for 2017. The success of the brand, and of the Prima line in particular, is due to two factors, those that characterize Fope : the style and technology used to make the jewelry. “Hidden in a bracelet Prima, for example, there are up to 150 micro springs, which give elasticity but also softness to the jewel: a system that boasts a worldwide patent”, explained the company’s managing director, Diego Nardin. That, in addition to the continuous renewal of the jewelry lines, has underlined the efforts of the company, listed a couple of years ago on the stock exchange in Milan, in playing on two factors: expansion of distribution and investments in technology.
Export and investments
The goal is achieved. And consolidates by Fope as the second Italian group in the sector, after Damiani, which however has a completely different story. The decision to list on the stock exchange was courageous and, in the panorama of small and medium-sized Italian companies, a rather unusual move. But far-sighted. In fact, the company used the new capital to expand its business. And investors understood this, given that the value of the stock has more than doubled in a year. “There is a significant increase in all the indicators and a strong financial solidity,” stressed Nardin. “The growth in sales has affected the main foreign markets on which we are focusing investments”. For this reason, for example, Fope Usa was set up, a subsidiary that has taken the place of the previous company in America. Abroad, on the other hand, Fope records 80% of revenues. And in 2017 those in the Americas (USA, Canada, Central America) have risen by 22%. But revenues are also going well in Europe (+ 24%): note that Fope Jewelery Limited, a company incorporated under British law, has just been set up. The corporate refocusing moves of the US and British subsidiaries are to be seen, perhaps, also in relation to two non-secondary aspects: the US-Europe tariff war and the Brexit: “We are prepared, in both cases we could use the two company with a simple redevelopment of the company name, “said the manager.
In any case, even Italy, all in all, does not disappoint (+ 9%). Among other things, Nardin pointed out, growth has not been curbed by a retouch of about 5% on part of the price list: that brand’s jewelry is not looking too much linked at price. Lastly, part of the result is also due to the success of the mono-brand boutique opened in Piazza San Marco, which is fully part of the company’s perimeter since last November.
The budget of 2017
Net sales for 2017 amounted to € 28.03 million, an increase of 21.4% compared to € 23.08 for the previous year. Margins also improved: Ebitda (gross result) was 3.9 million (+ 72%) compared to 2.26 in 2016. If you are a shareholder of Fope, you should also know that 600 thousand euros of the net result, increased to 2 , 33 million, will be distributed in the form of dividends, while the rest will remain in the company, because Fope does not stop there. Nardin cited a desire to increase the number of shop-in-shops (now 13) around the world, to open a single-brand store in London and an ambitious project to expand offices and the production site in Vicenza. Last but not least: forecasts for 2018 are positive. It should be another golden year.