Feb 1, 2016
El Ganso sales surge in 2015 as it expects to hit €90m this year
Feb 1, 2016
El Ganso, the preppy menswear brand partially owned by LVMH’s private equity firm L Capital, increased net sales by 31% in 2015 to 70 million euros (about $72 million at current exchange rate). According to a company statement, the retailer expects to reach 90 million euros in sales this year.
The label currently has 130 points of sale in more than 10 countries, and nearly 620 employees.
“We ended 2015 on a high note,” said El Ganso’s co-founder, Clemente Cebrián, who also said L Capital’s entry into the shareholding has allowed the leadership to be more rigorous and to follow a clear strategic plan. L Capital bought a 49% stake in the company in October 2015. “With their help a small business can become a big company”, said Cebrián.
2016 will see the menswear retailer consolidate its international footprint with the launch of new store openings. 35 new shops are due to open this year in Spain, while the brand is concentrating its internationalization efforts in France, the UK and Mexico.
Thanks to a strategic partnership with Galleries Lafayette, El Ganso is set to expand into Toulouse, Biarritz and Marseille, while four new locations will be set up in Mexico together with the group Sordo Madaleno.
Additionally, the brand is looking to maintain its current growth rate in the UK, as it explores further expansion opportunities, said Carlos Romero, Expansion Director.
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