Coccinelle reports double digit growth across all distribution channels; new TR doors expected EOY
Positive results have also been achieved for Coccinelle Travel Retail in the first nine months of 2024. The brand has opened new locations at Vienna International Airport (Austria), Almaty International Airport (Kazakhstan), and Belgrade Nikola Tesla International Airport (Serbia), among other key developments. Additional new doors and cruise ship locations are expected by the end of the year
In the first nine months of 2024, Coccinelle’s customer-centric strategy, aimed at increasingly meeting consumer needs with precision, has strengthened the brand's positioning, recording solid double-digit growth across all distribution channels and in various geographic areas. Growth has also been observed in terms of communication and product. Retail expansion and renovation have been key elements of the company’s strategy, resulting in new store openings in Italy, the brand's home country, as well as in the Middle East in Abu Dhabi, Malta and China. Additionally, boutique renovations have taken place in key tourist destinations such as Taormina and Naples in Italy, and Athens in Greece.
In terms of financial performance, the first nine months of the year saw a revenue increase of +13% compared to the same period last year, supported by a significantly positive EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). With a forecast exceeding 100 million in 2024, the European market has stood out with a +15% growth, consolidating Coccinelle’s position as a leading brand in the region. Italy has maintained its central role, contributing 44% of total sales, thanks to the brand’s strong presence in both direct and indirect channels. Key markets such as Germany, Austria, and Eastern Europe have continued to show signs of expansion.
The Asian market accounted for 10% of the brand’s total sales, maintaining stability compared to the previous year. In this region, the reopening of the boutique in Shanghai at the Daimaru Department Store in China and the reopening of the boutique at Central World Mall in Bangkok, Thailand, represent important steps in the brand's international expansion strategy. In the Middle East, Coccinelle recorded significant growth, with the opening of a boutique at The Galleria Al Maryah Island Mall in Abu Dhabi, further solidifying the brand’s presence in this strategically important geographic area.
E-commerce continues to be a key channel for the company, contributing 6% to total revenue, a percentage that rises above 20% when including online distribution through the wholesale channel. Sales from the coccinelle.com platform grew by +10% compared to 2023. Coccinelle’s global sales network, now present in 45 countries, includes 120 monobrand stores and around 1,300 points of sale in major department stores and prestigious multibrand shops, as well as a strong presence in travel retail.
Positive results have also been achieved for Coccinelle Travel Retail in the first nine months of 2024. The brand has opened new locations at Vienna International Airport (Austria), Almaty International Airport (Kazakhstan), and Belgrade Nikola Tesla International Airport (Serbia), among other key developments. Additional new doors and cruise ship locations are expected by the end of the year. Travel retail continues to be a strategic channel for the brand, supporting the company's international expansion.
With these results, Coccinelle positions itself as a company in constant expansion, projected for solid and steady growth. For its 2025 strategy, the brand aims to consolidate further through new openings and global restyling, targeted employee training via the Retail Academy, and expansion projects in Japan and Dubai in the first half of the year. 2025 will also see the launch of major product innovations, including the new and symbolic C-ME model and celebrations for the tenth anniversary of the iconic Arlettis line, alongside special projects and new collaborations.
