Bimba y Lola grows 4% and focuses its overseas expansion on higher sales in the US and China

The Spanish fashion market gives for what it gives, and in the case bimba and lola This is insufficient to achieve the growth goals, which remained at 4% in 2022 – thanks to sales abroad.

Company based in Vigo, controlled by sisters Maria and Uxia Dominguez (president or vice-president), entered 225 million euros in its last fiscal yearl, ended on February 28, almost in line with the 225.9 million euros it collected in 2019. The company did not specify the evolution of its net result, which amounted to 15.7 million euros in 2021; but he explained that the positive result achieved in 2022, although limited — compared to the double-digit growth it usually represents — was possible thanks to the presence in international markets, where sales surged by 22% and already contribute 44% of turnover, compared with 38% of what they represented in 2021.

According to the balance sheet published yesterday, during the past year, Bimba y Lola started selling in seven new countries in Asia, America and Europe, and continued to grow “virtually in all markets” where it operates, the company claims.

In total, the brand operates with 286 sales points in 26 countries, and is present in 48 markets (including the scope of its stores on the line). Looking ahead to 2023, the company is strongly committed to overseas sales, with turnover forecast to increase in two of the world’s largest markets: the United States and China.

“We are excited about our projects, which will continue to grow with the opening of our first stores in the United States and, if possible, in China,” he thrives. Jose Manuel Martinez Gutierrez, CEO, in the results statement. “Last year was again marked by far-reaching external factors, which affected both our environment and our expansion plans,” says Martínez. “However, the international growth of Bimba y Lola has continued to bring us joy,” he adds.

Bimba y Lola, founded in 2005 by a businessman Jesus Dominguez (Sociedad Textil Lonia), brother of designer Adolfo Domínguez, currently employs 1,809 people worldwide.