The Swiss clothing supplier Chicorée Mode AG closed the 2021 financial year with a strong increase in sales. On Wednesday, the company announced that its total revenues were 153 million Swiss francs (146 million euros). They exceeded the 2020 level by 13 percent.
“We are very pleased that in 2021 we were able to increase the previous year’s sales outside of the newly ordered branch closures,” said CEO Thomas Ullmann in a statement. At the same time, however, he warned of ongoing challenges: “For the year 2022, which has just started, we expect a more difficult market environment due to increases in raw material prices, delays in the supply chain and consumer sentiment in the retail trade that is still rather subdued,” says Ullmann.
Last year the company opened seven new branches and now has over 170 stores in Switzerland. Five to ten new openings are planned for 2021, with the focus on the Romandy region. It still offers “great growth potential,” the company explained. In addition, the company’s own online business is now to be launched, the start of which had to be postponed due to “various logistical challenges”. “The first packages will leave the chicory logistics center in Brunegg AG this spring,” the clothing supplier said.
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