The Berlin-based fashion and accessories provider Mikuta has set itself an ambitious growth target. The company announced on Monday that sales, which were 25 million euros last year, should be increased to 30 million euros this year.
Mikuta was founded as a jewelry label in the German capital in 2017. With the support of investor Fashion Tech Group, the brand has now expanded its range to include additional categories such as clothing and accessories. This enabled the company to “scale internationally”. Among other things, after the flagship store in Berlin, a new store was opened in Amsterdam last year.
According to the company, Germany and the USA are currently the brand’s most important markets. They “together account for around half of sales,” according to a statement. Revenues have also recently “grown strongly” in Great Britain and France.
CEO Christian Goossens now sees some potential for Mikuta given the current growth plans. “We believe we are still at the very beginning of our journey. Our ambition is to build a European lifestyle brand that can compete long-term alongside some of the strongest global fashion companies,” he said in a statement.