Calzedonia Group Profits Grow 19.7% in 2017

MILAN — The Calzedonia Group continued to grow in 2017.For the 12 months ended Dec. 31, the company, founded by Sandro Veronesi in Verona, Italy, reported net profits of 249 million euros, up 19.7 percent compared with 208 million euros in the previous year.The growth in 2017 was driven by all of the group's brands, which expanded their international business. The innerwear company controls the Calzedonia, Intimissimi and Tezenis labels as well as knitwear brand Falconeri, bridal line Atelier Emé and wine retailer Signorvino.Earnings before interest, taxes, depreciation and amortization rose 21.1 percent to 489 million euros for the group.In 2017, Calzedonia Group reported sales of 2.3 billion euros, a 8.7 percent rise compared with 2016.By brand, Calzedonia posted sales of 802 million euros; Intimissimi and Tezenis generated sales of 691 million euros and 609 million euros, respectively, while Falconeri registered sales of 65 million euros.In addition, Atelier Emé, which the group acquired in 2014, posted sales of 9 million euros, and Signorvino, established by Calzedonia Group in 2012, reported sales of 23 million euros.In 2017, the company's international sales increased 54 percent, while its e-commerce channel continued to grow thanks to the integration of the group's online and bricks-and-mortar stores.Calzedonia Group, which is present in 49 countries, last year opened 242 stores, of which 189 were outside Italy. As of Dec. 31, the group controlled a retail network of 4,454 points of sale, with 1,696 domestic.At home, the group focused on the expansion of the “Intimissimi Uomo” retail network dedicated to men’s underwear. Abroad, it opened a range of Calzedonia and Intimissimi stores in the United States, Japan and China.The company, which operates factories in Italy, Sri Lanka, Croatia, Romania, Bulgaria and Serbia, inaugurated a new plant in Ethiopia in 2017.Its goal in 2018 is to continue investing in retail expansion across the United States, China and Japan, while the company consolidates its existing business in Europe, Calzedonia Group said.At the same time, the group aims to accelerate the domestic business of Falconeri, whose knitwear is entirely produced in Italy, and to open additional Intimissimi Uomo and Atelier Emé stores.