Etam Sales Fell 2.1% In The Three Quarter, And The Chinese Market Is Still Struggling.

France

Etam, the retail group, recently announced its third quarter sales. During the period from July to September, the sales volume of Eiger reached 284 million euros, down 2.1%.

The reason is that the summer sale results are "unsatisfactory". Europe's climate in September is too mild, and the Chinese market is still very difficult.

This figure includes the 200 thousand euro exchange rate loss due to the depreciation of the renminbi against the euro.

China

In the doldrums, the group's local sales fell by 7.4% (by a fixed exchange rate of 4.1%).

The restructuring plan in China has been repositioning its products and stores network for months.

Sales in the European region were flat at 200 million 300 thousand euros (0.3%).

France recorded a slight decline (-0.1%).

The rest of Europe recorded an increase (2.7%).

In a statement, the group said, "French summer sales promotion results are not satisfactory.

The climate in September was particularly mild, which slowed down the same store sales in the autumn and winter.

By brand, Etam (fashion, underwear and Undiz chain) still maintained an increase of 0.9%, but it was greatly reduced compared with the 8.1% increase in the previous quarter.

Sales of another brand 1.2.3 of the group fell by 2.7%.

The turnover in the first nine months of the group was 882 million 400 thousand euros, with a slight decrease of 0.5% (excluding the exchange rate factor, an increase of 0.4%).

The European region still recorded an increase (4.7%), while the Chinese region has been significantly down from the beginning of the year (-10.6%).

As of September 30th, the Ege group had 4144 stores, including 944 in Europe and 2966 in China.

There are 231 franchise stores in the world.

In the first nine months of 2014, the group continued to open underwear stores in Europe and abroad, adding 28 new outlets.

In France, a part of Iger's clothing store was converted into an underwear store, and a group of cosmetics series (600 products) launched in early October.

The group said that in China, the number of store outlets has decreased by 213 loss stores, and 8 new stores have been opened in the shopping center.

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Stefano Ricci expects a turnover of 155 million euros in 2014.

The group said, "our geographical diversity has compensated us so that we can avoid the effects of economic crisis and geopolitical conflicts.

We entered the Chinese market in 1993 and opened the first store in Shanghai that year.

The group opened its first local boutique in Mumbai, India last week, bringing the number of its global stores to 42.

"Greater China" is our largest market, accounting for more than 26% of total sales.

Our turnover in the first half of this year increased by 19.7%, and in Russia and the former Soviet Republic, our sales grew by 2%.

The sales volume of Stefano Ricci in the United States increased by 12.5% over the same period.

The key to the success of the brand lies in its efforts to develop high-end products made in Italy, while continuing to spend huge sums of money (almost all on self financing) to expand production: invest 20 million euros between 2011 and 2013, and invest another 10 million euros this year.

Stefano Ricci is located in the flagship store in Florence.

The company said, "since we moved to Florence from 2012, we have been expanding the production workshop.

We will increase the area of 2500 square meters for the production of leather products, which account for 40% of our turnover.