The Herford-based clothing group Bugatti Holding Brinkmann GmbH & Co. KG had to accept a slight decline in sales in the 2021 financial year. At 152 million euros, sales were four percent below the previous year’s level, the group announced on Tuesday. According to its own statements, the clothing supplier, which owns brands such as Bugatti, Eduard Dressler and Wilvorst, suffered from the persistently weak demand for business and occasion wear, but was able to “stabilize its sales development in the second year of the pandemic despite the tense economic situation”. The online business provided a ray of hope with a sales increase of 25 percent.
The company announced that it has now completed its restructuring measures. Among other things, “the workforce has been adjusted to the economic situation and streamlined”. There were also changes in the product range: “As part of a targeted realignment in product development and procurement, collections were streamlined and concentrated,” the group announced. “That was rewarded by the market.”
In the current financial year, the group of companies now wants to return to the path of growth: The management forecast a sales increase “in the double-digit range” for 2022. However, the clothing supplier is still confronted with difficult framework conditions. “Challenges for the current year include in particular geopolitical crises (eg Russia), problems in transport logistics and in supply chains as well as high procurement prices,” the company explained.