Despite the winds of crisis, the big names in Italian and foreign fashion continue to survive. Indeed, in the first 9 months the large groups continued to grow and grind profits, registering a average increase in turnover of 11%. This is what emerges from a research carried out by the study Pambianco.
Surprisingly, the analysis also shows that Italian groups earn much more than foreign ones. The Ebitda of the Italian groups has in fact risen from 17,6% to 19% while that of foreign groups fell from 16,3% to 14,9%.
ITALIAN COMPANIES
The sample is made up of 12 companies for a total turnover of 14.183 million euros. The following data emerge from the analysis:
- The turnover in the first 9 months of 2011 it increased by 11,1% from 12.768 to 14.179 million euro. The companies that have grown the most are Bottega Veneta (+31,7%), Ferragamo (+27,6%) and Prada (+25%).
- TheEbitda (referring to 10 companies, Gucci and Bottega Veneta are missing) increased by about 1 and a half points, going from 17,6% to 19%. The best for Ebitda percentage of turnover are Prada with 28,1%, Tod's with 27,5% and Luxottica with 19,3%.
FOREIGN COMPANIES
The foreign sample is made up of 18 companies. The following data emerge from the analysis:
- The turnover in the first 9 months it increased by 11,3% from 65.654 to 73.053 million euro. The foreign companies that have grown the most are Pvh (Calvin Klein and Tommy Hilfiger) with 34,6%, Fossil (+30,6%) and Tiffany (+23,8%).
- TheEbitda (referring to 11 companies) decreased by about 1 and a half points, going from 16,3% to 14,9%. The best for Ebitda percentage of turnover are Hugo Boss with 23,9%, H&M with 20,5% and Fossil with 19,3%.
At this point it is legitimate to ask why large groups record these results, even in a period of generalized crisis. The causes are different. Definitely the size, which makes it possible to obtain conspicuous synergies in all company areas (product, production, distribution, communication….). But also the presence within the various listed Groups of highly prestigious brands, which they have found ample room for growth and profitability in emerging countries. The growth rate of these in 2011 (estimate), is in fact +7,4% while that of OECD countries is +1,6%.
