Gismondi 1754 is the only Italian jewelery company that publishes quarterly results. The Genoese Maison listed on the Euronext Growth Milan list also for the first quarter of 2023 has voluntarily disclosed its consolidated management accounts, broken down by geographical area and type of sales channel.
As at 31 March 2023, Gismondi 1754 recorded revenues from total sales of 4.1 million euros, an increase of 18% compared to 3.5 million in the first quarter of 2022, with a positive change of 623,000 euros compared to the same period of the ‘last year. Growth was mainly driven by the European Wholesale channel which, as at 31 March 2023, recorded total sales of €1.7 million, up 108% compared to the first quarter of 2022.
Good growth also for the Special Sales segment, the made-to-measure Gismondi 1754, which went from 939,286 euros in the first quarter of 2022 to 1,211,698 euros in the first quarter of 2023, with an increase of 29%. The incidence on the turnover of the European area remains predominant, with 53% of sales, with a strengthening in particular of the Italian market, which represents 44% of revenues. and just in March Gismondi 1754 signed a distribution agreement with Restivo Gioielli, an important Italian dealer of jewelery and watches, for the Restivo sales points in Catania, Taormina and Naples, with which it takes a further step forward in the expansion strategy and consolidation of the brand in our country. The incidence of the US market also increased, to 29% of total revenues. The company also established the Gismondi 1754 USA branch and appointed Giovanni Mattera Vairo as managing director for the operation in North America, South America and Canada.
The first three months of 2023 confirm the validity of the strategy already set in 2022 and strengthened with the commercial agreements of early 2023 and the launch of a growth policy also for acquisitions. Thanks to the recent acquisition of the Vendorafa brand, the opening of Middle Eastern channels, plus the strengthening of the American market, we still have a lot of potential to express and from which to obtain satisfaction also in the months to come. For us, this constant growth also represents the result of the appreciation we receive from our customers who recognize the quality and uniqueness of our jewels all over the world.
Massimo Gismondi, CEO of Gismondi 1754
