BERLIN — The Porsche Design Group continued to chalk up double-digit growth in 2013, with sales gaining 10 percent to reach 128 million euros, or $166 million.
Dollar figures are converted from euros at average exchange rates for the period in question.
The German group encompasses the Porsche Design and Porsche Driver’s Selection business as well as the Porsche Design Studio in Zell am See, Austria. The group does not release earnings figures.
Porsche Design said “above-average growth” was generated in the smartphone segment, with the introduction of the Porsche Design P’9982 smartphone from BlackBerry in late 2013. The first Porsche Design woman’s bag also hit the market in 2013, as did the first women’s Porsche Design Sport collection in cooperation with the group’s long-standing licensing partner, Adidas.
The German group also further expanded its retail network, with 50 Porsche Design stores opening last year, bringing the total number of Porsche Design Stores and franchises to 152. Key 2013 openings included London, Miami, Düsseldorf, Prague, Istanbul, Macau, Hong Kong and Jakarta, Indonesia. Looking ahead, chief executive officer Juergen Gessler said, “We are working on a slight increase for 2014. However, due to restructuring and a change of our business model, such as buying back our shoe license or the end of our license agreement in regards to our watches, there are quite a number of uncertainties.”
Not to mention some “huge investments” related to Porsche Design’s new flagship in Milan, the relocation of the Madison Avenue flagship in New York and the goal of opening a Paris flagship by the end of 2014. “Our plan is to double the turnover by 2108, to achieve a sales revenue of more than 300 million euros [$480 million at current exchange],” Gessler told WWD.