Spanish clothing retailer Bimba y Lola makes a profit of 15.7 million euros in 2021

Image Courtesy: ww.fashionnetwork.com

Bimba y Lola, the Spanish clothing retailer, saw its 2021 profit hit 15.7 million euros, 413% more than in 2020.

Notably, the clothing retailer managed to double its EBITDA during the year to 34.1 million euros.

Net revenue for this period was €216.5 million, a significant year-on-year increase of 31%.

The retailer said the good numbers represent a full recovery of business operating margins, reaching levels of profitability very close to those seen in the pre-pandemic period.

What’s remarkable is that the retailer hit the numbers despite frequent store closures and the cancellation of its Russian launch.

Bimba y Lola’s international growth has also improved its results, with global sales now representing 38% of the Group’s total.

Founded in 2005, Bimba y Lola now has 275 stores in more than 14 countries across Europe, America and Asia, and its online store receives millions of visits per year.

Anne G. Cash