Coccinelle reports positive results for 2024, strong presence in travel retail
Coccinelle has announced positive results for 2024, strengthening its position in the global market.
Thanks to a customer-focused strategy, the popular leather handbags and accessories brand achieved solid two-figure growth with a strong presence in the travel retail channel.
Its latest financial report indicates that global distribution grew during the year and made a significant contribution to performance. At the end of 2024, Coccinelle had 120 mono-brand stores in 45 countries, 1,300 points of sale in department stores and prestigious multi-brand retailers, with strategic openings in Italy, Abu Dhabi, Malta, Austria and Romania. Coccinelle welcomed major boutique renovations in Taormina, Naples, Athens, Shanghai and Bangkok.
The brand's omnichannel expansion and improvement strategy led to growth of +10% year on year with a turnover of €104m in sales, supported by positive EBITDA. This reflects the ongoing optimization of business processes. Handbags, the brand's core category, account for 70% of total sales, followed by small leather goods and accessories (25%) and footwear, which is growing steadily (5%).
The European market was the protagonist, with growth of +12%, representing 40% of total sales, with a particular focus on Germany, Austria and Eastern Europe, where the brand continued to expand. Italy played a leading role with growth of +13%, representing 45% of total sales. This growth, according to the report, was possible thanks to the multi-channel distribution model carried out in these countries.
The Asian market was stable, accounting for 10% of sales and expansion also continued in the Middle East. The opening in Vienna kicked off a series of developments in key international tourist hubs such as Japan, Dubai, Prague and Budapest.
Digitalization and e-commerce played a key role in supporting the brand's expansion, with steady growth and a 12% increase in online sales on coccinelle.com compared to the previous year; the virtual store now accounts for 6% of total sales, with a percentage of more than 20% including online wholesale.
Coccinelle said its 2024 goals laid the foundations for a major expansion plan in 2025. Key projects include the extension of the product range with the first ever Pet collection and the new C-ME bag, the flagship of the Spring/Summer 2025 campaign.
Coccinelle is also renewing its targeted staff training project through its Retail Academy.
