Brioni has unveiled its first-ever published annual accounts, showing the Italian luxury menswear maker is enjoying strong profits.
Brioni, which was recently rated the most prestigious luxury men’s fashion brand in the 2007 Luxury Brand Index survey from the independent New-York based Luxury Institute, said its earnings before interest, taxes and depreciation (EBITDA) rose by 43.1 percent to 35.5m euros in the year ending on December 31, 2006. The company, based in the Abruzzo town of Penne in Italy, also disclosed a 17.6% rise in revenues for 2006, to €192.8m for 2006.
The announcement marked the first time in its 62-year-old history that Brioni has made public its fully consolidated accounts, audited and certified by PriceWaterhouseCoopers.
“We are very satisfied with the company’s steady growth,“ said Andrea Perrone, the co-CEO who in July 2006 succeeded Umberto Angeloni at the helm of business and corporate strategy. He noted that at the EBIT level of net profits Brioni saw its 2006 results more than double to 24.9m euros (the increase was actually 157 percent year- on-year.)
Mr. Perrone said he expected 2007 to be “another year of significant growth” as he and his management team plough ahead with an ambitious program of international expansion.
Between 2006 and 2007 this expansion includes the opening of both Brioni-owned retail boutiques and franchise stores in St. Petersburg (Russia), Dubai (UAE), Mumbai (India), Kuala Lumpur (Malaysia), Almaty (Kazakhstan), Baku (Azerbaijan), a fifth store in Seoul (South Korea), Hong Kong (China), and Bal Harbour, Florida. In 2008 Brioni is set to also open in Macao and Jakarta (Indonesia).
Brioni, which was recently rated the most prestigious luxury men’s fashion brand in the 2007 Luxury Brand Index survey from the independent New-York based Luxury Institute, said its earnings before interest, taxes and depreciation (EBITDA) rose by 43.1 percent to 35.5m euros in the year ending on December 31, 2006. The company, based in the Abruzzo town of Penne in Italy, also disclosed a 17.6% rise in revenues for 2006, to €192.8m for 2006.
The announcement marked the first time in its 62-year-old history that Brioni has made public its fully consolidated accounts, audited and certified by PriceWaterhouseCoopers.
“We are very satisfied with the company’s steady growth,“ said Andrea Perrone, the co-CEO who in July 2006 succeeded Umberto Angeloni at the helm of business and corporate strategy. He noted that at the EBIT level of net profits Brioni saw its 2006 results more than double to 24.9m euros (the increase was actually 157 percent year- on-year.)
Mr. Perrone said he expected 2007 to be “another year of significant growth” as he and his management team plough ahead with an ambitious program of international expansion.
Between 2006 and 2007 this expansion includes the opening of both Brioni-owned retail boutiques and franchise stores in St. Petersburg (Russia), Dubai (UAE), Mumbai (India), Kuala Lumpur (Malaysia), Almaty (Kazakhstan), Baku (Azerbaijan), a fifth store in Seoul (South Korea), Hong Kong (China), and Bal Harbour, Florida. In 2008 Brioni is set to also open in Macao and Jakarta (Indonesia).
