The Pearl takes stock. The Dutch intimate company, owned by the Sapinda group, ended the 2021 financial year (closed December 31, 2021) improving its sales and reducing its losses compared to the year of the pandemic. The company, which during 2022 postponed the presentation of results because it was undergoing a restructuring, failed to exceed the income of 2019.
Compared to 2020, the turnover of La Perla registered an increase of 8.9%up to 72.1 million euros, while compared to the year before the pandemic, turnover is 15.9% below.
La Perla did improve its profitability in 2021. In the year, the company registered losses of 45.3 million euros, well below the red numbers of 136.3 million euros in 2020 and almost half of the losses of 89.1 million euros registered in 2019.
by channels, sales through group stores, which account for 51% of turnover, grew 10.8% in 2021, while revenues in the online channel shot up 42.9% in the year, reaching 25% of sales. Billing through outlets, for its part, shrank by 11% in the period.
La Perla recorded losses of 45.3 million euros in the year
According to the company, the 2021 financial year was marked “by severe restrictions caused by the pandemic, which meant the closure of establishments. Excluding closures, the group’s turnover through its own stores increased by 15%.
During the year, La Perla reached an agreement with its owner to receive a credit line of four hundred million euros divided into two tranches. The objective was to secure the operations of the company following the pandemic hit.
La Perla has undergone a profound restructuring in recent years. The intimate company, which passed into the hands of the Sapinda fund in 2018, went public a year later. Then, the group also restructured its management, naming a new CEO, Pascal Perrier, who left the company last October and was replaced by Peter Shaeferuntil then responsible for the group’s cosmetics division.
The executive has a long career in the fashion sector following having worked for fifteen years at the American company Coty. The manager was one of the promoters of the La Perla cosmetics division, which was launched in 2019 with an investment of two hundred million euros.
