Bimba y Lola was able to complete the 2024 financial year with growth of three percent. The growth was driven in particular by online sales, the Spanish fashion company said on Wednesday. According to the management, Bimba y Lola generated total sales of 234 million euros in the 2024 financial year.
The company also has a sales increase of 3.54 percent compared to the over 226 million euros in sales in 2019, the last financial year before the start of Corona pandemic. In this context, it is a significantly positive development with which Bimba y Lola has not only achieved and exceeded the level of sales of pandemic, but also consolidated. However, the company has not given any information on how this development affects profitability.
“Bimba y Lola continues to consolidate its global development project in a strongly changing market. We not only open up new markets, but also expand our activities to new channels such as international airports and various leading online marketplaces,” emphasized Jose Manuel Martínez, CEO of the Spanish fashion company. While he is taking a balance sheet of the 2024 financial year, the CEO adds: “We accompany our expansion” into new markets “with a continuous strengthening of our resources and capacities”.
With growth of 15 percent in the online area
If one took a closer look at the development of Bimba y Lola in the 2024 financial year, the Spanish fashion company opened 20 new branches in the course of the year and increased the number of business from 290 at the end of the 2023 financial year to currently 310. With this inpatient trade network, the company generated around 79 percent of its total sales in the 2024 financial year, which was worth around 184.86 million euros (+0.53 percent). This shows that the value compared to the 183.87 million euros, which were implemented in stationary trade in the previous year, is practically stagnating.
The company’s online turnover, on the other hand, grew by 15 percent and rose from 19 to 21 percent of total sales. This corresponds to an online turnover of around 49.14 million euros and makes the digital channel the most important growth driver of the company 024.
As far as the markets are concerned, Bimba y Lola, without providing more detailed information, emphasized that the international business is 44 percent of the group’s total turnover and has thus remained constant compared to the previous year. This key figure shows that Bimba y Lola was able to maintain its growth in Spain and internationally. The company is now present in 52 countries (instead of 50) with stationary shops and online. The turnover in Spain in 2024 was 131 million euros (+3 percent), international sales to EUR 102.96 million (+3 percent).
This article was used with digital tools translated.
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