After the annus horribilis 2020, the world of jewelry in 2021 takes revenge. This is testified by the results of Gismondi 1754, a historic company that is listed on the Aim list of the Italian Stock Exchange. The company produces high-end jewelry and also stands out because it voluntarily discloses the consolidated management results of sales. In the third quarter of 2021, Gismondi 1754 reported consolidated operating revenues of 1.8 million euros, up 63% compared to the corresponding period for 2020. Again comparing the quarterly figures relating to revenues, sales in the period 2021 compared to payment in 2019 (pre-covid), the growth in sales is 816,477 euros (+ 80%), thanks to the strong boost given by the European wholesale channel (+ 1471%), special sales (+ 238%) and the Genoa store (+ 389%). with double-digit growth also of the Portofino store (+ 78%), of the US wholesale (+ 64%), and of the Prague franchising (+ 94%).
The Genoese group closed the first nine months of 2021 with revenues of € 5.7 million (+ 66% compared to the first nine months of 2020) and even with a jump of 77% compared to 2019, in which revenues were attested to 3.2 million euros The growth in the third quarter of 2021 was driven by the European wholesale channel (+361,418 euros compared to 2020), which offsets the negative results of the US and Middle East wholesale, which have yet to restart at full capacity with new orders. The results of the retail channel vary according to the seasonality of the locations, so the result of the Portofino store is highlighted, which closes with + 247% sales (equal to 206,976 euros), in spite of Milan and S. Moritz who give the best results in the autumn winter season. The Prague franchising performance was substantially stable (sales of € 126,265), in line with sales in Q3 2020.
These are truly extraordinary results, which testify to the success of the brand, which is growing quarter by quarter and improving the sales figure for the first nine months of 2019 pre-pandemic by over 2 million. We enter the autumn and winter season which tends to be the one where the propensity to buy increases and which will give further impetus to both retail and wholesale sales, where we will also begin at full speed the sale of the new Clip collection which is opening us more and more to a clientele. young and medium-high range. The last quarter of 2021 will lead us towards the end of the year with great positivity and ambition, in the wake of the growth results achieved so far.
Massimo Gismondi, CEO of Gismondi 1754
As for the special sales, contrary to what happened in the past they are represented by collection objects and not by taylor-made products, all for a total value of 750 thousand euros: an important confirmation of the work and investments made in Fairs and mainly in Las Vegas (the place where the conditions for this sale were generated). Analyzing revenues by geographic area, as at 30 September 2021 the percentage of turnover in the Italy area increased, which currently represents 31% of revenues compared to 14% in the same period of 2020. Europe, overall, is worth approximately 54 % of the turnover of Gismondi 1754. Stable the incidence of other countries between Russia (2%) and other countries (13%).
