Bimba y Lola fortifies board by welcoming former Kenzo CEO after maintaining stable sales in 2023

Bimba y Lola sustained its stable sales performance in 2023. The Galician fashion house recorded revenues of 227 million euros in the latest fiscal year, representing a modest 1% increase from the preceding year. International sales remained pivotal to the company’s business, accounting for 44% of the total revenue.

“2023 has been a year of stabilization. Despite a challenging environment, Bimba y Lola has successfully solidified its presence in key markets, with focused efforts on bolstering store operations, digital channels, supply chain efficiency, and the integration of our activities at our new headquarters in Vigo,” commented José Manuel Martínez, CEO of the company.

Sales through Bimba y Lola’s own stores saw 2% growth, compared to the previous year, while online sales surged by 7% from 2022. Moreover, the company highlighted in its earnings report a decrease in contributions from discount channels targeting previous seasons’ items.

By the end of 2023, the Galician firm boasted 290 points of sale across 28 markets, with its online presence extending to 50 countries. Key highlights of its retail expansion in the last fiscal year included openings on London’s Regent Street and at Aventura Mall in Miami.

Aside from revenue growth, Bimba y Lola emphasized its sustained investment levels from the previous year, aimed at long-term brand development projects. International expansion, technological advancements, and centralized operations at its new headquarters are identified as key pillars of its investment strategy for the current fiscal year.

In parallel to the presentation of its financial results, the company disclosed a significant structural shift: the appointment of Sylvie Colin to its board of directors. Colin has previously served as CEO at renowned brands such as Kenzo, Maje, or Caroll Paris.

“We are delighted to welcome her to our team as we transform Bimba y Lola into a global brand,” remarked the CEO.