×
164
Fashion Jobs
L'OREAL GROUP
Executive - Sales - Matrix - Cochin
Permanent · Kochi
SUBIR SINHA
General Manager Production Manager
Permanent · Kanpur
RIVAARA LABS
we Are Area Sales Manager Like You to Join Our Sales Team
Permanent · Nashik
CAPITAL PLACEMENT SERVICES
sr.Manager Production Grinding Machines For Vadodara Gujarat
Permanent · Vadodara
L'OREAL GROUP
Area Sales Manager - South Bengal
Permanent · Kolkata
FUTURES AND CAREERS
Job Requirement For "Assistant Production Manager"
Permanent · Renigunta
KEWAL KIRAN CLOTHING LTD
Area Sales Manager (Channel Sales) Rajasthan, Jaipur
Permanent · Jaipur
FEDBANK FINANCIAL SERVICES LTD
Area Sales Manager- Doorstep Gold Loan(Chennai)
Permanent · Chennai
HERO HOUSING FINANCE LIMITED
Area Sales Manager
Permanent · Thane
PROJOBS
Manager Accounts - Garment Manufacturing (Cma)
Permanent · Coimbatore
HECTOR AND STREAK CONSULTING PVT LTD
Production Manager- Diagnostic Portfolio
Permanent · Mumbai
ELITE DECOR PVT LTD
Production Manager & Production Supervisor
Permanent · Vadodara
L'OREAL GROUP
Sales Executive - Professional Division - Bhopal
Permanent · Bhopal
L'OREAL GROUP
Executive - Sales Cpd - Bhatinda (n)
Permanent · Bathinda
L'OREAL GROUP
Sales Executive - Cpd - Bhatinda
Permanent · Bathinda
L'OREAL GROUP
Area Sales Manager, Cpd - Chandigarh
Permanent · Chandigarh
HEALTHKART
Area Sales Manager- Healthkart - Lucknow, Agra, Gwalior
Permanent · Lucknow
HALONIX TECHNOLOGIES PVT LTD
Area Sales Manager - Lighting Retail Sales (Rajkot)
Permanent · Rajkot
ELECTRONICA FINANCE LTD
Area Sales Manager - Bangalore Machinery Loan
Permanent · Bengaluru
NANDANI CREATION LTD
Production Manager
Permanent · Jaipur
ELECTRONICA FINANCE LTD
Area Sales Manager - Kolhapur Machinery Loan
Permanent · Kolhapur
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Ranchi
By
Reuters API
Published
Mar 29, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Italy's Kiko CEO says may bring in new investor to fund growth

By
Reuters API
Published
Mar 29, 2018

Italian make-up group Kiko is in talks to bring in a minority investor to help fund growth in India, the Middle East and Asia and lift profitability, Chief Executive Cristina Scocchia said.


Photo: Kiko



Scocchia built her reputation as the Italy head of French cosmetics giant L'Oreal and arrived at Kiko last July to relaunch the family-owned group that was founded in 1997.

Kiko expanded abroad rapidly thanks to cheap but trendy products. It is now grappling with falling profit margins due to tougher competition and the e-commerce challenge facing all bricks-and-mortars retailers.

"We were pioneers, now we are no longer the only player in this market segment. Competition is stronger so we need to develop new strategies to return to profitable growth", Scocchia told Reuters in a telephone interview late on Wednesday.

Kiko, which competes with the likes of Max Factor, has seen its business formula replicated by smaller rivals in recent years while online competitors multiplied.

To finance a three-year business plan to 2020 Kiko is considering issuing new shares for an estimated 70-90 million euros ($86-$111 million).

Scocchia said a new investor, which could be a private equity fund, may take up the new stock. The group's owners are Italy's Percassi family, who also own Serie A football club Atalanta.

"We're thinking about the possibility of having a partner that can bring in new capital but also specific expertise in those geographical areas we want to develop," she said.

Scocchia said Kiko was in talks with a couple of potential investors and hoped to take a decision by the summer. She declined to give further details.

Under the plan, Kiko will invest 90 million euros to fund product research and marketing as well as to further digitalise the company and open 73 new outlets.

The group has more than 1,000 directly-owned stores in 21 countries and reaps 64 percent of its revenue outside Italy.

Last year it reported a 3 percent increase in revenues to 610 million euros but margins fell, Scocchia said.

In January, Kiko filed for bankruptcy protection in the United States where it closed 27 out of 30 shops as they were not making money.

"We've kept three which are important for the brand's image and then we want to invest significantly in e-commerce."

Scocchia didn't rule out a listing in the distant future.

"Going public is one of the goals we have set for ourselves. It's an important goal, but in the near term we have different priorities", she said.

 

© Thomson Reuters 2021 All rights reserved.