Esotiq & Henderson banking on the internet
Retail & leisureAdvertisement
schedule 02 May 2018
Aneta Cichla
POLAND For 2018 lingerie chain Esotiq & Henderson is expecting two-digit growth in its online sales platform.
Last year the revenues of the four online stores owned by the company totalled PLN 4.9 mln – a 113 pct increase on 2016.
“Sales in online stores make up an increasing proportion of the group's revenue and this will not change. We intend to fully utilise the potential of our brands,” declares Adam Skrzypek, the president of Esotiq & Henderson.
Furthermore, this year the company intends to accelerate the expansion of its sales chain in Poland. The number of physical stores is expected to increase by 20, from 263 to 283. Its chain in Eastern Europe and beyond is expected to increase from 19 to 32 shops, with the first stores in Kazakhstan and Russia to be opened in H2 this year. In Germany the number of stores is projected to increase from four to nine.
“Profitability will remain the most important issue for the group this year. We expect further dynamic growth in sales and the development of our chain, but we will focus on the best locations. Quality is more important to us than quantity,” adds the president of Esotiq & Henderson.
The group ended last year with an operating profit of PLN 3.8 mln, after a loss of PLN 3.3 mln over the previous year. Its parent company’s operating profit came to PLN 9.8 mln – 96.4 pct higher than a year earlier. A significant improvement could also be seen in the group’s profit for the last year, amounting to PLN 7.6 mln after a loss of PLN 4 mln a year earlier, while the parent company's profit increased from PLN 4.1 mln to PLN 8.1 mln.
“The optimisation of the sales chain, cost control and debt reduction have brought the expected results in the form of a significant increase in sales and profits. The gross margin on sales is still high. At the end of 2017 it amounted to 59.2 pct for the group and 59.4 pct in the case of the parent company. The division of the company significantly increased the ability of the Esotiq & Henderson group to compete on the market,” claims Adam Skrzypek.
The sales chain of the group in Poland and abroad last year actually shrank from 304 to 286 stores and the total area by 17,300 sqm (by 14 pct). This was due to spinning off the Femestage clothing chain and its 28 stores into a new unit, EMG.
“Sales in online stores make up an increasing proportion of the group's revenue and this will not change. We intend to fully utilise the potential of our brands,” declares Adam Skrzypek, the president of Esotiq & Henderson.
Furthermore, this year the company intends to accelerate the expansion of its sales chain in Poland. The number of physical stores is expected to increase by 20, from 263 to 283. Its chain in Eastern Europe and beyond is expected to increase from 19 to 32 shops, with the first stores in Kazakhstan and Russia to be opened in H2 this year. In Germany the number of stores is projected to increase from four to nine.
“Profitability will remain the most important issue for the group this year. We expect further dynamic growth in sales and the development of our chain, but we will focus on the best locations. Quality is more important to us than quantity,” adds the president of Esotiq & Henderson.
The group ended last year with an operating profit of PLN 3.8 mln, after a loss of PLN 3.3 mln over the previous year. Its parent company’s operating profit came to PLN 9.8 mln – 96.4 pct higher than a year earlier. A significant improvement could also be seen in the group’s profit for the last year, amounting to PLN 7.6 mln after a loss of PLN 4 mln a year earlier, while the parent company's profit increased from PLN 4.1 mln to PLN 8.1 mln.
“The optimisation of the sales chain, cost control and debt reduction have brought the expected results in the form of a significant increase in sales and profits. The gross margin on sales is still high. At the end of 2017 it amounted to 59.2 pct for the group and 59.4 pct in the case of the parent company. The division of the company significantly increased the ability of the Esotiq & Henderson group to compete on the market,” claims Adam Skrzypek.
The sales chain of the group in Poland and abroad last year actually shrank from 304 to 286 stores and the total area by 17,300 sqm (by 14 pct). This was due to spinning off the Femestage clothing chain and its 28 stores into a new unit, EMG.
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