Italy : Stefanel brand Q3 net sales rise 5.2%

The Board of Directors of Stefanel S.p.A. met under the chairmanship of Giuseppe Stefanel and approved the Group's consolidated results for the first nine months of the current year.

The Stefanel business unit has continued the process started in previous seasons of repositioning its brand with a view to turning it into an "accessible designer label". This process involves a substantial change in product and image with a consequent shift in customer base and inevitable effects on short-term performance.

Although the third-quarter figures and, particularly those relating to the Fall/Winter 2007 collection, reflect the difficulties and costs involved in such a sweeping change, they are starting to show the first signs of an improving trend in sales. In fact, the third quarter has reported a 10% growth in revenues, partly thanks to consistent comparative growth in sales of around 10% on the Italian market for the Fall/Winter collection.

The Interfashion business unit has reported positive results in the first nine months of the year, in line with expectations. In detail, revenues increased by 6.1% in the third quarter, during which the first collection bearing the High label started to be sold. The second line of the designer Antonio Marras also continued to be developed during the period, sales of which will commence with the Fall/Winter 2008 collection and which, along with the High label, will make up the new portfolio of brands produced and sold by Interfashion.

Source at Fibre2fashion.com